Insider Selling: Nexstar Media Group (NASDAQ:NXST) EVP Sells 752 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 752 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $132,667.84. Following the completion of the sale, the executive vice president directly owned 19,510 shares of the company’s stock, valued at $3,441,954.20. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Ann Gliha also recently made the following trade(s):

• On Thursday, June 4th, Lee Ann Gliha sold 258 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $47,064.36.
• On Wednesday, May 27th, Lee Ann Gliha sold 742 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $138,991.44.

Nexstar Media Group Price Performance

NXST stock traded up $1.11 during midday trading on Thursday, hitting $174.52. 342,542 shares of the stock were exchanged, compared to its average volume of 381,985. The stock’s 50-day moving average price is $191.36 and its 200-day moving average price is $207.47. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 0.45 and a beta of 0.91. 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 quick ratio of 1.76 and a current ratio of 1.76.

Nexstar Media Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Guggenheim lifted their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Benchmark reduced their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. One 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, Nexstar Media Group currently has an average rating of “Buy” and an average price target of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

Several hedge funds have recently bought and sold shares of the stock. CWA Asset Management Group LLC increased its position in Nexstar Media Group by 1.7% during the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock worth $630,000 after buying an additional 51 shares in the last quarter. Merit Financial Group LLC increased its position in Nexstar Media Group by 1.6% during the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after buying an additional 56 shares in the last quarter. Truist Financial Corp increased its position in Nexstar Media Group by 5.2% during the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after buying an additional 56 shares in the last quarter. WPG Advisers LLC grew its position in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Nexstar Media Group by 15.7% in the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Nexstar Media Group

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.