Nexstar Media Group (NASDAQ:NXST) Director Charles Thomas Mcmillen Sells 1,000 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $180.00, for a total transaction of $180,000.00. Following the completion of the sale, the director directly owned 5,658 shares of the company’s stock, valued at approximately $1,018,440. This represents a 15.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock traded up $2.03 during midday trading on Tuesday, reaching $179.57. The company had a trading volume of 308,138 shares, compared to its average volume of 381,526. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91. The stock has a fifty day simple moving average of $192.27 and a 200 day simple moving average of $207.60. Nexstar Media Group, Inc. has a 1-year low of $164.00 and a 1-year high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. 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 currently 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in Nexstar Media Group by 19.9% in the third quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock valued at $5,507,000 after acquiring an additional 4,616 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Nexstar Media Group by 2,272.2% during the 3rd quarter. Alps Advisors Inc. now owns 49,460 shares of the company’s stock worth $9,780,000 after purchasing an additional 47,375 shares during the last quarter. M&T Bank Corp increased its stake in shares of Nexstar Media Group by 2,573.4% during the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after purchasing an additional 134,871 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Nexstar Media Group by 5.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 93,334 shares of the company’s stock valued at $18,456,000 after purchasing an additional 4,609 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Nexstar Media Group by 157.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NXST has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Guggenheim raised their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $259.67.

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.