Nexstar Media Group (NASDAQ:NXST) Hits New 1-Year High at $187.27

Nexstar Media Group, Inc. (NASDAQ:NXST)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $187.27 and last traded at $180.85, with a volume of 45456 shares. The stock had previously closed at $184.79.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NXST. Wells Fargo & Company upgraded Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $190.00 to $221.00 in a research note on Monday, May 13th. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, July 23rd. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Finally, Benchmark restated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.67.

Nexstar Media Group Stock Performance

The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. The stock has a fifty day moving average price of $166.01 and a 200-day moving average price of $166.82. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.28 by $0.88. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.97 earnings per share. On average, analysts expect that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $1.69 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.82%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insider Buying and Selling

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $52,160.00. Following the sale, the chief financial officer now directly owns 5,462 shares in the company, valued at approximately $873,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Gary Weitman sold 432 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,329.76. Following the sale, the insider now owns 10,902 shares of the company’s stock, valued at approximately $1,825,321.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lee Ann Gliha sold 326 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the completion of the transaction, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at $873,920. The disclosure for this sale can be found here. Insiders have sold 6,826 shares of company stock valued at $1,080,597 over the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Nexstar Media Group

Large investors have recently bought and sold shares of the company. Whittier Trust Co. acquired a new position in Nexstar Media Group during the second quarter worth about $27,000. EverSource Wealth Advisors LLC grew its holdings in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after buying an additional 177 shares during the last quarter. First United Bank & Trust acquired a new position in shares of Nexstar Media Group in the fourth quarter worth $33,000. SRS Capital Advisors Inc. boosted its stake in shares of Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.