John R. Muse Sells 2,385 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director John R. Muse sold 2,385 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $170.16, for a total transaction of $405,831.60. Following the completion of the transaction, the director now directly owns 25,978 shares in the company, valued at approximately $4,420,416.48. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Nexstar Media Group Price Performance

Shares of NXST opened at $171.15 on Thursday. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86. The stock has a market cap of $5.31 billion, a PE ratio of 9.85, a P/E/G ratio of 0.20 and a beta of 1.48. The firm has a 50-day simple moving average of $169.09 and a two-hundred day simple moving average of $167.10. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Nexstar Media Group’s revenue was up 20.7% on a year-over-year basis. As a group, analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Wall Street Analyst Weigh In

NXST has been the topic of several research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.50.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in shares of Nexstar Media Group in the third quarter valued at approximately $25,000. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group in the second quarter valued at approximately $27,000. True Wealth Design LLC acquired a new position in shares of Nexstar Media Group in the third quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group in the third quarter valued at approximately $33,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.