Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells 284 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 284 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $50,103.28. Following the transaction, the insider owned 28,443 shares in the company, valued at $5,017,914.06. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brett Jenkins also recently made the following trade(s):

• On Thursday, June 4th, Brett Jenkins sold 397 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total transaction of $72,420.74.
• On Wednesday, May 27th, Brett Jenkins sold 229 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $42,896.28.

Nexstar Media Group Stock Performance

NXST traded up $1.11 during trading hours on Thursday, reaching $174.52. The company’s stock had a trading volume of 342,542 shares, compared to its average volume of 381,985. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30. The company’s 50-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. The firm has a market cap of $5.33 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91.

Nexstar Media Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on 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 upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Guggenheim increased their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Finally, Benchmark lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $259.67.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NXST. Torren Management LLC acquired a new stake in shares of Nexstar Media Group during the 4th quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth $28,000. WPG Advisers LLC grew its holdings 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 worth $36,000 after purchasing an additional 71 shares in the last quarter. Hantz Financial Services Inc. grew its holdings 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 worth $40,000 after purchasing an additional 125 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth $54,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group News Roundup

Here are the key news stories impacting Nexstar Media Group this week:

• Neutral Sentiment: Director Charles Thomas McMillen sold 1,000 shares, and the filing says the transaction was for tax withholding related to equity award vesting. Nexstar Media Group insider filing
• Neutral Sentiment: Multiple other insiders also sold shares at the same $176.42 price level, including Andrew Alford, Sean Compton, Dana Zimmer, Lee Ann Gliha, and Blake Russell, all citing tax-withholding obligations. Nexstar Media Group insider filing
• Neutral Sentiment: Recent reporting also highlighted that NXST has fallen over the past month and remains below key moving averages, signaling continued technical weakness. Nexstar Media Group stock down article
• Neutral Sentiment: The company’s dividend yield remains attractive, but the payout ratio is elevated, which may limit enthusiasm among income-focused investors. Nexstar Media Group stock page

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.