Perry A. Sook Sells 35,205 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 35,205 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the completion of the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. This represents a 4.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Stock Performance

Shares of NXST stock traded down $2.48 during trading on Wednesday, reaching $158.98. 441,577 shares of the company’s stock traded hands, compared to its average volume of 328,461. The firm’s 50-day moving average is $170.07 and its 200 day moving average is $167.44. The company has a market capitalization of $4.93 billion, a P/E ratio of 9.19, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 1 year low of $147.25 and a 1 year high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

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

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.25%. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Nexstar Media Group by 57.8% in the 3rd quarter. Tidal Investments LLC now owns 3,217 shares of the company’s stock valued at $532,000 after purchasing an additional 1,178 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Nexstar Media Group during the third quarter valued at $33,000. World Investment Advisors LLC purchased a new position in Nexstar Media Group during the third quarter worth about $3,747,000. TD Private Client Wealth LLC grew its position in Nexstar Media Group by 22.0% during the third quarter. TD Private Client Wealth LLC now owns 964 shares of the company’s stock worth $159,000 after buying an additional 174 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in Nexstar Media Group by 39.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,092 shares of the company’s stock worth $181,000 after acquiring an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the subject of several analyst reports. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim reduced their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Loop Capital lowered 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. Finally, Benchmark reiterated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $204.29.

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.