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Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Gary Weitman Sells 192 Shares of Stock

Financial News Live · Sep 22, 2022 08:01

Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) insider Gary Weitman sold 192 shares of Nexstar Media Group stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $191.07, for a total value of $36,685.44. Following the completion of the sale, the insider now directly owns 3,216 shares of the company's stock, valued at $614,481.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Gary Weitman also recently made the following trade(s):

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On Tuesday, June 28th, Gary Weitman sold 3,202 shares of Nexstar Media Group stock. The shares were sold at an average price of $168.20, for a total value of $538,576.40.

Nexstar Media Group Stock Down 1.8 %

Shares of NASDAQ NXST opened at $187.86 on Thursday. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 0.73 and a beta of 1.47. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day moving average of $190.46 and a two-hundred day moving average of $178.51. Nexstar Media Group, Inc. has a 1 year low of $139.69 and a 1 year high of $204.62.

Nexstar Media Group (NASDAQ:NXST – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $5.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.46 by $0.10. Nexstar Media Group had a return on equity of 32.36% and a net margin of 18.79%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $4.51 EPS. Nexstar Media Group's revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts forecast that Nexstar Media Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Wednesday, August 10th. Nexstar Media Group's payout ratio is currently 16.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NXST. Barrington Research lifted their price objective on Nexstar Media Group to $240.00 in a research note on Monday, August 15th. Rosenblatt Securities raised Nexstar Media Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $181.00 to $246.00 in a research note on Tuesday, September 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $223.43.

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Nexstar Media Group in the 1st quarter valued at about $26,000. Lazard Asset Management LLC acquired a new position in Nexstar Media Group in the 2nd quarter valued at about $30,000. Denali Advisors LLC increased its position in Nexstar Media Group by 100.0% in the 2nd quarter. Denali Advisors LLC now owns 200 shares of the company's stock valued at $33,000 after acquiring an additional 100 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Nexstar Media Group in the 2nd quarter valued at about $33,000. Finally, Allworth Financial LP increased its position in Nexstar Media Group by 74.4% in the 2nd quarter. Allworth Financial LP now owns 211 shares of the company's stock valued at $34,000 after acquiring an additional 90 shares during the period. 92.01% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

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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.