Nexstar Media Group (NASDAQ:NXST) Insider Dana Zimmer Sells 465 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 465 shares of Nexstar Media Group stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total value of $87,103.80. Following the sale, the insider owned 3,272 shares of the company’s stock, valued at approximately $612,911.04. This trade represents a 12.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Stock Performance

Shares of NXST opened at $185.12 on Thursday. The company has a market cap of $5.65 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 0.51 and a beta of 0.97. 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 stock has a 50-day moving average price of $199.35 and a 200-day moving average price of $207.96. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Analysts Set New Price Targets

NXST has been the subject of a number of research analyst reports. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Benchmark dropped their price target on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Barrington Research restated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. One investment 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. Based on data from MarketBeat, Nexstar Media Group has a consensus rating of “Buy” and an average target price of $259.67.

Institutional Trading of Nexstar Media Group

A number of institutional investors have recently made changes to their positions in NXST. Integrated Wealth Concepts LLC purchased a new stake in shares of Nexstar Media Group during the first quarter valued at approximately $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $2,844,000 after purchasing an additional 5,251 shares during the period. Millennium Management LLC boosted its stake in shares of Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after purchasing an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 valued at $23,802,000 after purchasing an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Nexstar Media Group during the first quarter valued at approximately $654,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Key Headlines Impacting Nexstar Media Group

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

• Neutral Sentiment: Multiple Nexstar insiders sold shares at $187.32, but the filings say the transactions were to satisfy tax withholding obligations related to equity vesting. SEC filing for Michael Biard
• Neutral Sentiment: Additional insider sales were disclosed by Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Brett Jenkins, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, adding to the near-term overhang on sentiment. SEC filing for Lee Ann Gliha
• Negative Sentiment: The cluster of insider sales may cause investors to question whether management sees limited near-term upside, even though the trades appear to be routine and not necessarily a negative fundamental signal. SEC filing for Gary Weitman

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.