Gary Weitman Sells 319 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 319 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $182.42, for a total transaction of $58,191.98. Following the completion of the sale, the insider directly owned 6,012 shares in the company, valued at $1,096,709.04. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gary Weitman also recently made the following trade(s):

• On Wednesday, May 27th, Gary Weitman sold 184 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $34,466.88.

Nexstar Media Group Price Performance

NXST traded up $1.01 on Friday, reaching $182.02. The company had a trading volume of 207,222 shares, compared to its average volume of 333,002. The business has a 50 day simple moving average of $193.11 and a 200 day simple moving average of $207.52. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 39.06, a P/E/G ratio of 0.45 and a beta of 0.91. 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, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid 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 dividend yield of 4.1%. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NXST. Dorsal Capital Management LP bought a new position in shares of Nexstar Media Group in the third quarter worth approximately $74,152,000. QVT Financial LP grew its holdings in shares of Nexstar Media Group by 200.0% in the fourth quarter. QVT Financial LP now owns 155,281 shares of the company’s stock worth $31,530,000 after purchasing an additional 310,562 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Nexstar Media Group by 118.1% in the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after purchasing an additional 294,308 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nexstar Media Group by 157.2% in the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after purchasing an additional 228,603 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Nexstar Media Group in the fourth quarter worth approximately $41,474,000. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NXST shares. Wells Fargo & Company decreased their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Guggenheim lifted their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. One research 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 company’s stock. Based on data from MarketBeat, the stock 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.