Nexstar Media Group (NASDAQ:NXST) Insider Dana Zimmer Sells 4,008 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 4,008 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the completion of the sale, the insider owned 1,792 shares in the company, valued at approximately $335,928.32. This represents a 69.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Dana Zimmer also recently made the following trade(s):

• On Tuesday, June 16th, Dana Zimmer sold 876 shares of Nexstar Media Group stock. The stock was sold at an average price of $170.81, for a total transaction of $149,629.56.
• On Wednesday, June 10th, Dana Zimmer sold 915 shares of Nexstar Media Group stock. The shares were sold at an average price of $176.42, for a total transaction of $161,424.30.
• On Thursday, June 4th, Dana Zimmer sold 433 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total transaction of $78,987.86.
• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $87,103.80.

Nexstar Media Group Stock Down 2.5%

NXST stock opened at $184.80 on Tuesday. The firm has a market cap of $5.69 billion, a PE ratio of 35.47 and a beta of 0.91. The company has a debt-to-equity ratio of 5.09, a quick ratio of 1.56 and a current ratio of 1.56. The firm’s fifty day moving average is $180.04 and its 200 day moving average is $199.69. Nexstar Media Group, Inc. has a one year low of $154.47 and a one year high of $254.30.

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

Nexstar Media Group Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Wells Fargo & Company cut their price objective on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Zacks Research lowered Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Barrington Research reiterated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $259.00.

Institutional Trading of Nexstar Media Group

A number of institutional investors have recently made changes to their positions in the company. Torren Management LLC purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth approximately $28,000. Measured Wealth Private Client Group LLC purchased a new position in Nexstar Media Group in the 3rd quarter valued at $28,000. WPG Advisers LLC boosted its stake in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares during the last quarter. State of Wyoming purchased a new stake in shares of Nexstar Media Group during the second quarter worth $54,000. Finally, Danske Bank A S acquired a new stake in shares of Nexstar Media Group in the third quarter valued at about $59,000. 95.30% of the stock is owned by institutional investors and hedge funds.

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.