Nexstar Media Group Insider Sells Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) faced some attention when insider Gary Weitman sold 1,241 shares of the company's stock on March 7th. The shares were sold at an average price of $177.21, amounting to a total value of $219,917.61. After this transaction, Weitman now directly owns 3,975 shares, which are valued at approximately $704,409.75. This sale represents a significant decrease of 23.79% in their ownership of Nexstar stock. The details of this transaction were filed with the Securities and Exchange Commission (SEC) and are accessible on their website.

Nexstar Media Group's Stock Performance

On the same day as Weitman's sale, shares of NXST traded higher, increasing by $5.26 to reach $177.85 amid lively trading, with a total of 609,979 shares changing hands, compared to an average volume of 371,909. Over the past year, Nexstar has seen a low of $146.04 and a high of $191.86 for its stock. The media company has maintained a debt-to-equity ratio of 2.98, while both its current and quick ratios stand at 1.68. Additionally, the fifty-day moving average for the stock is $156.23 with a two-hundred-day moving average of $163.70. Nexstar Media Group's market capitalization is around $5.52 billion, featuring a price-to-earnings (P/E) ratio of 10.29 and a P/E/G ratio of 0.45.

Recent Financial Results

Nexstar Media Group recently released its quarterly earnings results on February 27th, where it reported earnings per share (EPS) of $7.56 for the quarter. This figure fell short of analysts’ expectations, which had predicted an EPS of $9.22, resulting in an underperformance of $1.66. Revenue for the quarter hit $1.49 billion, which slightly surpassed the analysts’ estimates of $1.48 billion. The firm's net margin was recorded at 11.39%, and it boasted a return on equity of 26.03%. Analysts are forecasting that Nexstar Media Group will achieve an EPS of 21.62 for the current fiscal year.

Dividend Announcement

Nexstar also declared a quarterly dividend that was paid on February 26th. Stockholders of record on February 12th received a dividend of $1.86 per share, indicating an annual dividend yield of 4.18% based on an annualized payout of $7.44. This recent dividend marks an increase from the previous quarterly dividend of $1.69. The ex-dividend date for this payment was also February 12th, and the company's payout ratio now stands at 34.56%.

Analyst Revisits Ratings

Various analysts have revisited their price targets and ratings for Nexstar Media Group. Guggenheim recently raised their price target from $210.00 to $220.00 while maintaining a "buy" rating. Conversely, StockNews.com downgraded the shares from "buy" to "hold". Loop Capital upgraded the stock from "hold" to "buy", setting a new target price of $200.00, while Barrington Research reaffirmed their "outperform" rating with a target at $200.00. Finally, Benchmark has increased their target price for Nexstar from $200.00 to $225.00, also assigning a "buy" rating. Presently, one analyst holds a "hold" rating, while seven analysts recommend buying the stock, giving it an average rating of "Moderate Buy" and a consensus price target of $210.29.

Institutional Investor Activity

Recently, several significant investors have adjusted their holdings of Nexstar Media Group shares. BNP Paribas Financial Markets increased their position by 67.8%, acquiring an additional 10,603 shares, bringing their total to 26,239 shares. Other investors such as SGL Investment Advisors and Charles Schwab Investment Management have also increased their positions in the company, now holding substantial amounts of stock. Overall, about 95.30% of Nexstar's stock is owned by institutional investors and hedge funds.

About Nexstar Media Group

Nexstar Media Group, Inc. serves as a diversified media company, known for producing and distributing local and national news, sports, and entertainment content across various television and digital platforms in the United States. It owns, operates, programs, or provides services for various markets and offers diverse television programming services.

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