Nexstar Media Group (NASDAQ:NXST) COO Michael Biard Sells 1,227 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) COO Michael Biard sold 1,227 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $174.21, for a total value of $213,755.67. Following the completion of the transaction, the chief operating officer owned 17,105 shares in the company, valued at approximately $2,979,862.05. This represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Biard also recently made the following trade(s):

• On Wednesday, May 27th, Michael Biard sold 989 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $185,259.48.

Nexstar Media Group Stock Up 1.3%

Shares of NXST traded up $2.20 during trading hours on Monday, reaching $176.70. The stock had a trading volume of 61,375 shares, compared to its average volume of 378,550. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The firm has a 50-day simple moving average of $191.14 and a 200 day simple moving average of $207.28. 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 $5.40 billion, a price-to-earnings ratio of 37.92, a P/E/G ratio of 0.44 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 159.66%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NXST. Guggenheim increased their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its holdings in shares of Nexstar Media Group by 7,750.4% in the first quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock worth $1,633,000 after buying an additional 8,913 shares in the last quarter. Western Wealth Management LLC purchased a new position in shares of Nexstar Media Group during the first quarter worth about $1,229,000. Bank of America Corp DE lifted its position in Nexstar Media Group by 17.0% in the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after buying an additional 25,193 shares during the last quarter. Janus Henderson Group PLC lifted its position in Nexstar Media Group by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after buying an additional 11,477 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new stake in Nexstar Media Group in the 1st quarter worth approximately $154,000. 95.30% of the stock is currently owned by institutional investors.

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.