Nexstar Media Group (NASDAQ:NXST) COO Michael Biard Sells 1,227 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) COO Michael Biard sold 1,227 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $174.21, for a total value of $213,755.67. Following the completion of the sale, the chief operating officer directly owned 17,105 shares in the company, valued at approximately $2,979,862.05. This represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Biard also recently made the following trade(s):

• On Wednesday, May 27th, Michael Biard sold 989 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $185,259.48.

Nexstar Media Group Trading Down 1.3%

Shares of NASDAQ:NXST opened at $172.29 on Tuesday. The company has a market cap of $5.26 billion, a P/E ratio of 36.97, a P/E/G ratio of 0.44 and a beta of 0.91. The stock’s 50-day moving average is $190.98 and its 200-day moving average is $207.14. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30. 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 Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Wall Street Analyst Weigh In

NXST has been the subject of several research reports. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their target price for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft reduced 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 note on Monday, May 11th. Benchmark reduced their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Barrington Research reiterated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. 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. According to MarketBeat, Nexstar Media Group presently has an average rating of “Buy” and a consensus target price of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds have recently modified their holdings of NXST. Torren Management LLC acquired a new position in shares of Nexstar Media Group in the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new stake in Nexstar Media Group in the 3rd quarter valued at $28,000. WPG Advisers LLC boosted its stake in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares in the last quarter. State of Wyoming acquired a new stake in Nexstar Media Group in the 2nd quarter valued at $54,000. Finally, Danske Bank A S acquired a new stake in Nexstar Media Group in the 3rd quarter valued at $59,000. 95.30% of the stock is owned by institutional investors and hedge funds.

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.