Nexstar Media Group (NASDAQ:NXST) EVP Blake Russell Sells 239 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 239 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $42,164.38. Following the completion of the sale, the executive vice president owned 27,901 shares in the company, valued at $4,922,294.42. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Blake Russell also recently made the following trade(s):

• On Thursday, June 4th, Blake Russell sold 319 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $58,191.98.
• On Wednesday, May 27th, Blake Russell sold 185 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $34,654.20.

Nexstar Media Group Stock Up 0.6%

NXST stock opened at $174.52 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a market capitalization of $5.33 billion, a PE ratio of 37.45, a PEG ratio of 0.44 and a beta of 0.91. Nexstar Media Group, Inc. has a twelve month low of $164.00 and a twelve month high of $254.30. The stock has a 50-day simple moving average of $191.24 and a two-hundred day simple moving average of $207.36.

Nexstar Media Group Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWA Asset Management Group LLC grew its holdings in shares of Nexstar Media Group by 1.7% during the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock worth $630,000 after purchasing an additional 51 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of Nexstar Media Group by 1.6% during the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after purchasing an additional 56 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Nexstar Media Group by 5.2% during the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after purchasing an additional 56 shares in the last quarter. WPG Advisers LLC grew its holdings 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 worth $36,000 after purchasing an additional 71 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Key Nexstar Media Group News

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

• Neutral Sentiment: Several Nexstar executives and insiders, including EVP Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, and Blake Russell, sold shares at $176.42. The company says these sales were tied to tax-withholding obligations related to vesting equity awards, which makes them less concerning than open-market selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent reporting also noted that NXST has fallen over the past month and remains below key moving averages, suggesting continued technical weakness that may be weighing on sentiment. Nexstar Media Group stock down article
• Neutral Sentiment: The company still offers a relatively attractive dividend yield, but its payout ratio is elevated, which may temper enthusiasm from income-focused investors. Nexstar Media Group stock page

Wall Street Analyst Weigh In

NXST has been the subject of a number of recent analyst reports. Benchmark reduced their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Wells Fargo & Company cut their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Buy” and an average 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.