Nexstar Media Group (NASDAQ:NXST) Insider Sells $72,420.74 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 397 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 $72,420.74. Following the completion of the sale, the insider directly owned 27,977 shares in the company, valued at approximately $5,103,564.34. The trade was a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brett Jenkins also recently made the following trade(s):

• On Wednesday, May 27th, Brett Jenkins sold 229 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $42,896.28.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded up $1.01 during mid-day trading on Friday, hitting $182.02. 207,222 shares of the company were exchanged, compared to its average volume of 333,002. The company has a market capitalization of $5.56 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. The business has a fifty day moving average of $193.11 and a 200 day moving average of $207.52. Nexstar Media Group, Inc. has a 1-year low of $164.00 and a 1-year high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.1%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Institutional Trading of Nexstar Media Group

Several large investors have recently added to or reduced their stakes in NXST. Dorsal Capital Management LP bought a new stake in Nexstar Media Group during the third quarter worth about $74,152,000. QVT Financial LP grew its stake in 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 during the last quarter. AQR Capital Management LLC grew its stake in 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 during the last quarter. JPMorgan Chase & Co. grew its stake in 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 during the last quarter. Finally, Norges Bank bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $41,474,000. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Buy” and a consensus price target of $259.67.

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.