Nexstar Media Group (NASDAQ:NXST) EVP Sells $53,438.30 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lindsey Knapp sold 290 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $184.27, for a total transaction of $53,438.30. Following the completion of the transaction, the executive vice president directly owned 870 shares of the company’s stock, valued at approximately $160,314.90. The trade was a 25.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Lindsey Knapp also recently made the following trade(s):

• On Wednesday, May 27th, Lindsey Knapp sold 92 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $17,233.44.

Nexstar Media Group Stock Up 0.6%

Shares of NASDAQ:NXST opened at $182.02 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The company has a 50-day moving average price of $193.11 and a 200 day moving average price of $207.52. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.45 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.1%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Nexstar Media Group News Roundup

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

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Torren Management LLC bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $28,000. WPG Advisers LLC raised its stake in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after acquiring an additional 125 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Nexstar Media Group during the second quarter valued at approximately $54,000. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NXST. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Benchmark decreased their price objective on shares of 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 raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note 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 issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average 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.