Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells 605 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 605 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $185.33, for a total value of $112,124.65. Following the sale, the insider directly owned 11,689 shares in the company, valued at approximately $2,166,322.37. The trade was a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Andrew Alford also recently made the following trade(s):

• On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $73,991.40.

Nexstar Media Group Stock Up 3.3%

Nexstar Media Group stock traded up $5.97 during trading hours on Monday, hitting $184.40. 414,551 shares of the stock traded hands, compared to its average volume of 386,162. The firm’s 50-day moving average price is $197.31 and its two-hundred day moving average price is $207.84. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market cap of $5.63 billion, a PE ratio of 39.57, a PEG ratio of 0.45 and a beta of 0.91. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s payout ratio is currently 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently added to or reduced their stakes in the stock. Torren Management LLC purchased a new stake in Nexstar Media Group during the 4th quarter valued at $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group during the 3rd quarter valued at $28,000. WPG Advisers LLC grew its position in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares during the period. Hantz Financial Services Inc. grew its position in shares of Nexstar Media Group by 164.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after acquiring an additional 125 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $59,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NXST has been the topic of a number of analyst reports. Benchmark dropped their price target on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Barrington Research reissued an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company decreased their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. 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’s stock. Based on data from MarketBeat.com, Nexstar Media Group currently has a consensus 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.