Perry Sook Buys 12,235 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry Sook bought 12,235 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $162.26 per share, for a total transaction of $1,985,251.10. Following the transaction, the chief executive officer owned 899,044 shares in the company, valued at approximately $145,878,879.44. The trade was a 1.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $178.59 on Wednesday. The firm has a market capitalization of $5.45 billion, a PE ratio of 38.32, a PEG ratio of 0.43 and a beta of 0.91. The stock’s fifty day moving average is $186.15 and its 200 day moving average is $205.13. Nexstar Media Group, Inc. has a fifty-two week low of $154.47 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 announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds have recently added to or reduced their stakes in NXST. CWA Asset Management Group LLC boosted its holdings in shares of Nexstar Media Group by 1.7% in the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock valued at $630,000 after purchasing an additional 51 shares during the period. Merit Financial Group LLC raised its position in Nexstar Media Group by 1.6% during the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after purchasing an additional 56 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Nexstar Media Group by 5.2% in the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after buying an additional 56 shares during the period. WPG Advisers LLC lifted its holdings in shares of 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 period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Nexstar Media Group by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after buying an additional 80 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. 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. Barrington Research reaffirmed an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Wells Fargo & Company cut their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average 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.