Dan Lanzano Sells 247 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dan Lanzano sold 247 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total transaction of $46,268.04. Following the completion of the transaction, the insider directly owned 431 shares of the company’s stock, valued at approximately $80,734.92. The trade was a 36.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dan Lanzano also recently made the following trade(s):

• On Monday, May 18th, Dan Lanzano sold 237 shares of Nexstar Media Group stock. The shares were sold at an average price of $196.37, for a total value of $46,539.69.

Nexstar Media Group Price Performance

NXST stock traded down $2.91 during midday trading on Wednesday, reaching $185.12. 324,271 shares of the stock were exchanged, compared to its average volume of 384,860. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30. The company has a fifty day moving average price of $200.38 and a 200 day moving average price of $207.99. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $5.65 billion, a PE ratio of 39.73, a P/E/G ratio of 0.48 and a beta of 0.97.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NXST. Torren Management LLC purchased a new position in shares of Nexstar Media Group in the 4th quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group in the third quarter worth $28,000. Root Financial Partners LLC bought a new position in Nexstar Media Group in the third quarter worth $31,000. WPG Advisers LLC lifted its position in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NXST. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wells Fargo & Company decreased their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Guggenheim raised their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $259.67.

Key Nexstar Media Group News

Here are the key news stories impacting Nexstar Media Group this week:

• Neutral Sentiment: Multiple Nexstar insiders sold shares at $187.32, but the filings say the transactions were to satisfy tax withholding obligations related to equity vesting. SEC filing for Michael Biard
• Neutral Sentiment: Additional insider sales were disclosed by Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Brett Jenkins, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, adding to the near-term overhang on sentiment. SEC filing for Lee Ann Gliha
• Negative Sentiment: The cluster of insider sales may cause investors to question whether management sees limited near-term upside, even though the trades appear to be routine and not necessarily a negative fundamental signal. SEC filing for Gary Weitman

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.