Nexstar Media Group (NASDAQ:NXST) Insider Andrew Alford Sells 395 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 395 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $73,991.40. Following the transaction, the insider owned 12,294 shares of the company’s stock, valued at approximately $2,302,912.08. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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.

Nexstar Media Group Trading Down 1.5%

Nexstar Media Group stock opened at $185.12 on Thursday. The firm has a 50-day moving average of $199.35 and a 200-day moving average of $207.96. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 39.73, a P/E/G ratio of 0.51 and a beta of 0.97.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid 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 is currently 159.66%.

Key Stories 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

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Benchmark dropped their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Buy” and a consensus price target of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in Nexstar Media Group during the third quarter worth approximately $28,000. Root Financial Partners LLC acquired a new stake in Nexstar Media Group during the third quarter worth approximately $31,000. WPG Advisers LLC lifted its position in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after acquiring an additional 125 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

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.