Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells $50,103.28 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 284 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $50,103.28. Following the completion of the transaction, the insider owned 28,443 shares of the company’s stock, valued at approximately $5,017,914.06. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Thursday, June 4th, Brett Jenkins sold 397 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total transaction of $72,420.74.
• On Wednesday, May 27th, Brett Jenkins sold 229 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $42,896.28.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $174.50 on Friday. The company has a 50 day simple moving average of $191.14 and a 200-day simple moving average of $207.13. 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 market capitalization of $5.33 billion, a price-to-earnings ratio of 37.45, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared 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. This represents a $7.44 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Wall Street Analyst Weigh In

Several equities research analysts have 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. Deutsche Bank Aktiengesellschaft lowered 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. Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Finally, Guggenheim raised their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. One 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’s stock. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Buy” and an average target price of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently bought and sold shares of NXST. Integrated Wealth Concepts LLC acquired a new stake in Nexstar Media Group during the first quarter worth $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nexstar Media Group by 49.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock worth $2,844,000 after buying an additional 5,251 shares in the last quarter. Millennium Management LLC boosted its stake in Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after buying an additional 61,830 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after buying an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Nexstar Media Group during the first quarter valued at $654,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group News Summary

Here are the key news stories impacting Nexstar Media Group this week:

• Neutral Sentiment: Several Nexstar executives, including Blake Russell, Andrew Alford, Sean Compton, Dana Zimmer, and Lee Ann Gliha, sold shares at $176.42. The filings say these were tax-withholding sales tied to equity award vesting, which usually makes them less concerning than discretionary insider selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent coverage noted that NXST has been weakening over the past month and remains below key moving averages, suggesting bearish momentum may be contributing to the stock’s decline. Nexstar Media Group stock down article
• Neutral Sentiment: Nexstar continues to offer a sizable dividend yield, but the payout ratio is elevated, which may limit upside enthusiasm from income investors. Nexstar Media Group stock page

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.