Nexstar Media Group (NASDAQ:NXST) EVP Sells $47,064.36 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 258 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $182.42, for a total transaction of $47,064.36. Following the transaction, the executive vice president owned 18,387 shares in the company, valued at $3,354,156.54. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Ann Gliha also recently made the following trade(s):

• On Wednesday, May 27th, Lee Ann Gliha sold 742 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $138,991.44.

Nexstar Media Group Trading Up 0.6%

Shares of NASDAQ:NXST traded up $1.01 on Friday, hitting $182.02. 207,222 shares of the company’s stock were exchanged, compared to its average volume of 333,002. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. The business’s 50 day simple moving average is $193.11 and its two-hundred day simple moving average is $207.52. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Analyst Ratings Changes

Several research firms have commented on NXST. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. 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. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Benchmark decreased their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Guggenheim lifted their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $259.67.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently made changes to their positions in NXST. CWA Asset Management Group LLC lifted its holdings in Nexstar Media Group by 1.7% in the 4th quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock valued at $630,000 after purchasing an additional 51 shares in the last quarter. Merit Financial Group LLC lifted its holdings in Nexstar Media Group by 1.6% in the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after purchasing an additional 56 shares in the last quarter. Truist Financial Corp lifted its holdings in Nexstar Media Group by 5.2% in the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock valued at $231,000 after purchasing an additional 56 shares in the last quarter. WPG Advisers LLC lifted its holdings in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Nexstar Media Group by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after purchasing an additional 80 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.