Nexstar Media Group (NASDAQ:NXST) EVP Lee Ann Gliha Sells 742 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 742 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total transaction of $138,991.44. Following the completion of the transaction, the executive vice president owned 17,988 shares of the company’s stock, valued at approximately $3,369,512.16. This represents a 3.96% decrease in their ownership of the stock. The transaction 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

NXST opened at $185.12 on Thursday. 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 firm has a fifty day moving average price of $199.35 and a 200 day moving average price of $207.96. Nexstar Media Group, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30. The stock has a market cap of $5.65 billion, a P/E ratio of 39.73, a P/E/G ratio of 0.51 and a beta of 0.97.

Nexstar Media Group Dividend Announcement

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

Institutional Investors Weigh In On Nexstar Media Group

A number of large investors have recently modified their holdings of NXST. Dorsal Capital Management LP purchased a new stake in shares of Nexstar Media Group during the third quarter worth $74,152,000. QVT Financial LP grew its holdings in shares of Nexstar Media Group by 200.0% during the fourth quarter. QVT Financial LP now owns 155,281 shares of the company’s stock worth $31,530,000 after buying an additional 310,562 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after buying an additional 294,308 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nexstar Media Group by 157.2% during the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after buying an additional 228,603 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth $41,474,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NXST shares. Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Benchmark cut their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Barrington Research reissued an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $252.00 to $220.00 in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $259.67.

Nexstar Media Group News Summary

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.