Andrew Alford Sells 778 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 778 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $137,254.76. Following the sale, the insider directly owned 14,357 shares in the company, valued at $2,532,861.94. The trade was a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, June 4th, Andrew Alford sold 368 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total transaction of $67,130.56.
• On Thursday, May 28th, Andrew Alford sold 605 shares of Nexstar Media Group stock. The shares were sold at an average price of $185.33, for a total transaction of $112,124.65.
• 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 transaction of $73,991.40.

Nexstar Media Group Trading Up 0.6%

Shares of NASDAQ:NXST traded up $1.11 during trading on Thursday, reaching $174.52. The stock had a trading volume of 342,542 shares, compared to its average volume of 381,985. The firm’s fifty day moving average is $191.36 and its 200 day moving average is $207.47. 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. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 37.45, a P/E/G ratio of 0.45 and a beta of 0.91.

Nexstar Media Group Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on NXST shares. Guggenheim upped their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Barrington Research reiterated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Wells Fargo & Company cut 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 research report on Friday, May 8th. Finally, Benchmark cut 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 report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Buy” and an average target price of $259.67.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NXST. Dorsal Capital Management LP purchased a new position in shares of Nexstar Media Group in the third quarter worth $74,152,000. QVT Financial LP increased its position in Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after purchasing an additional 310,562 shares during the period. AQR Capital Management LLC increased its position in Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after purchasing an additional 294,308 shares during the period. JPMorgan Chase & Co. increased its position in Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares during the period. Finally, Norges Bank purchased a new position in Nexstar Media Group during the 4th quarter valued at $41,474,000. 95.30% of the stock is owned by hedge funds and other 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.