Nexstar Media Group (NASDAQ:NXST) COO Michael Biard Sells 2,465 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) COO Michael Biard sold 2,465 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $185.82, for a total value of $458,046.30. Following the transaction, the chief operating officer owned 20,890 shares of the company’s stock, valued at approximately $3,881,779.80. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Biard also recently made the following trade(s):

• On Friday, June 12th, Michael Biard sold 1,227 shares of Nexstar Media Group stock. The stock was sold at an average price of $174.21, for a total transaction of $213,755.67.
• On Wednesday, May 27th, Michael Biard sold 989 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $185,259.48.

Nexstar Media Group Stock Up 0.1%

NXST traded up $0.10 during trading on Monday, hitting $186.24. The company had a trading volume of 373,042 shares, compared to its average volume of 389,423. Nexstar Media Group, Inc. has a 1-year low of $154.47 and a 1-year high of $254.30. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $5.74 billion, a PE ratio of 35.75 and a beta of 0.91. The business has a 50-day moving average of $180.87 and a 200-day moving average of $199.04.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 6th. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $5.98 by ($2.37). The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.Nexstar Media Group’s revenue was up 62.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.06 earnings per share. As a group, analysts forecast that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, August 14th. Nexstar Media Group’s dividend payout ratio (DPR) is 142.80%.

Hedge Funds Weigh In On Nexstar Media Group

A number of large investors have recently bought and sold shares of NXST. Torren Management LLC bought a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in Nexstar Media Group during the 3rd quarter valued at approximately $28,000. State of Wyoming acquired a new position in Nexstar Media Group during the 2nd quarter valued at approximately $54,000. Danske Bank A S bought a new stake in Nexstar Media Group in the third quarter valued at $59,000. Finally, Harbor Investment Advisory LLC bought a new stake in Nexstar Media Group in the second quarter valued at $63,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Wells Fargo & Company lowered their price target on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Barrington Research reissued an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Wall Street Zen cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $259.00.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.