Nexstar Media Group (NASDAQ:NXST) Insider Sells $44,581.41 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 261 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $44,581.41. Following the completion of the transaction, the insider directly owned 6,963 shares in the company, valued at approximately $1,189,350.03. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Friday, June 12th, Gary Weitman sold 194 shares of Nexstar Media Group stock. The stock was sold at an average price of $174.21, for a total value of $33,796.74.
• On Thursday, June 4th, Gary Weitman sold 319 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $58,191.98.
• 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 value of $34,466.88.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $164.16 on Friday. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 0.42 and a beta of 0.91. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 1-year low of $163.46 and a 1-year high of $254.30. The stock’s 50-day moving average is $189.91 and its 200 day moving average is $206.64.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 yield of 4.5%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Torren Management LLC purchased a new position in Nexstar Media Group in the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $28,000. WPG Advisers LLC boosted its stake in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Danske Bank A S bought a new position in shares of Nexstar Media Group in the third quarter worth approximately $59,000. Finally, State of Wyoming bought a new position in shares of Nexstar Media Group in the second quarter worth approximately $54,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Citigroup raised 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 report on Friday, April 10th. Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Guggenheim boosted 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Buy” and a consensus target price of $259.67.

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.