Nexstar Media Group (NASDAQ:NXST) Insider Sells $42,896.28 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 229 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total value of $42,896.28. Following the completion of the transaction, the insider owned 27,061 shares of the company’s stock, valued at approximately $5,069,066.52. This represents a 0.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Stock Down 4.0%

Shares of NASDAQ NXST opened at $178.43 on Friday. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30. The business has a 50-day simple moving average of $197.31 and a two-hundred day simple moving average of $207.72. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market cap of $5.45 billion, a P/E ratio of 38.29, a P/E/G ratio of 0.47 and a beta of 0.97.

Nexstar Media Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barrington Research restated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Wells Fargo & Company cut their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Benchmark cut their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $259.67.

Institutional Trading of Nexstar Media Group

Hedge funds have recently bought and sold shares of the company. Torren Management LLC bought a new stake in Nexstar Media Group in the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new stake in Nexstar Media Group in the 3rd quarter worth approximately $28,000. Root Financial Partners LLC bought a new stake in Nexstar Media Group in the 3rd quarter worth approximately $31,000. WPG Advisers LLC lifted its position in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after buying an additional 125 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

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.