Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) EVP Brett Jenkins sold 3,200 shares of the stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $190.00, for a total value of $608,000.00. Following the sale, the executive vice president now owns 20,449 shares in the company, valued at $3,885,310. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Nexstar Media Group Trading Down 2.8 %
Shares of NXST stock traded down $5.36 during trading hours on Thursday, reaching $184.20. The company had a trading volume of 28,966 shares, compared to its average volume of 558,988. The company has a 50 day moving average of $173.77 and a 200 day moving average of $178.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 7.57, a P/E/G ratio of 0.70 and a beta of 1.43. Nexstar Media Group, Inc. has a 1-year low of $139.69 and a 1-year high of $204.62.
Nexstar Media Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Monday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, November 10th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 14.38%.
Wall Street Analyst Weigh In
A number of research firms recently commented on NXST. StockNews.com began coverage on Nexstar Media Group in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Barrington Research decreased their price target on Nexstar Media Group from $240.00 to $200.00 in a research report on Friday, November 11th. Guggenheim reduced their price objective on Nexstar Media Group to $230.00 in a report on Thursday, October 20th. Rosenblatt Securities reduced their price objective on Nexstar Media Group from $246.00 to $237.00 and set a “buy” rating on the stock in a report on Wednesday, November 9th. Finally, Wells Fargo & Company downgraded Nexstar Media Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $227.00 to $175.00 in a report on Wednesday, November 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.33.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in Nexstar Media Group by 1.0% during the 2nd quarter. FMR LLC now owns 2,740,135 shares of the company’s stock worth $446,313,000 after buying an additional 26,586 shares during the period. BlackRock Inc. raised its stake in Nexstar Media Group by 0.7% during the 1st quarter. BlackRock Inc. now owns 1,714,944 shares of the company’s stock worth $323,233,000 after buying an additional 12,720 shares during the period. Boston Partners raised its stake in Nexstar Media Group by 4.8% during the 3rd quarter. Boston Partners now owns 1,434,419 shares of the company’s stock worth $239,680,000 after buying an additional 66,106 shares during the period. LSV Asset Management raised its stake in Nexstar Media Group by 10.8% during the 3rd quarter. LSV Asset Management now owns 1,196,460 shares of the company’s stock worth $199,629,000 after buying an additional 116,654 shares during the period. Finally, Park West Asset Management LLC raised its stake in Nexstar Media Group by 13.2% during the 2nd quarter. Park West Asset Management LLC now owns 907,256 shares of the company’s stock worth $147,774,000 after buying an additional 105,697 shares during the period. Institutional investors and hedge funds own 92.01% of the company’s stock.
About Nexstar Media Group
Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.