Nexstar Media Group (NASDAQ:NXST) EVP Rachel Morgan Sells 185 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Rachel Morgan sold 185 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $34,654.20. Following the transaction, the executive vice president owned 565 shares in the company, valued at approximately $105,835.80. This trade represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Stock Performance

NASDAQ NXST traded down $2.91 during trading hours on Wednesday, hitting $185.12. 324,271 shares of the stock were exchanged, compared to its average volume of 384,860. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 0.48 and a beta of 0.97. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30. The stock has a 50-day moving average of $200.38 and a 200 day moving average of $207.99.

Nexstar Media Group Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently weighed in on NXST shares. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price target for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Barrington Research reiterated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Benchmark cut their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $259.67.

Nexstar Media Group News Roundup

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

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors have recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $28,000. Root Financial Partners LLC purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $31,000. WPG Advisers LLC boosted its stake in shares of 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 acquiring an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Nexstar Media Group by 164.5% during the 3rd 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. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

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.