Nexstar Media Group (NASDAQ:NXST) Insider Gary Weitman Sells 194 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 194 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $174.21, for a total transaction of $33,796.74. Following the transaction, the insider owned 6,568 shares in the company, valued at $1,144,211.28. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gary Weitman also recently made the following trade(s):

• On Thursday, June 4th, Gary Weitman sold 319 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total transaction of $58,191.98.
• On Wednesday, May 27th, Gary Weitman sold 184 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $34,466.88.

Nexstar Media Group Stock Down 1.3%

Nexstar Media Group stock opened at $172.29 on Tuesday. The firm has a market capitalization of $5.26 billion, a PE ratio of 36.97, a P/E/G ratio of 0.44 and a beta of 0.91. The company’s 50-day moving average is $190.98 and its 200-day moving average is $207.14. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.3%. Nexstar Media Group’s payout ratio is currently 159.66%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Torren Management LLC acquired a new position in shares of Nexstar Media Group during the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $28,000. WPG Advisers LLC grew its position in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Danske Bank A S acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $59,000. Finally, State of Wyoming acquired a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Guggenheim increased their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Benchmark lowered their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus 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.