Nexstar Media Group (NASDAQ:NXST) Insider Dan Lanzano Sells 237 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dan Lanzano sold 237 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $196.37, for a total value of $46,539.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Nexstar Media Group Stock Down 4.0%

NXST opened at $188.63 on Wednesday. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market cap of $5.76 billion, a P/E ratio of 40.48, a P/E/G ratio of 0.59 and a beta of 0.97. The stock’s 50 day moving average price is $205.69 and its 200 day moving average price is $208.25.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a dividend of $1.86 per share. The ex-dividend date is Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.9%. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Analyst Ratings Changes

NXST has been the topic of several research analyst reports. Guggenheim lifted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Benchmark lowered their price target 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. Finally, Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. One investment 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. Based on data from MarketBeat, Nexstar Media Group has an average rating of “Buy” and an average price target of $259.67.

Institutional Trading of Nexstar Media Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Western Wealth Management LLC acquired a new stake in shares of Nexstar Media Group in the first quarter worth $1,229,000. Bank of America Corp DE boosted its position in shares of Nexstar Media Group by 17.0% in the first quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after buying an additional 25,193 shares during the period. Janus Henderson Group PLC boosted its position in shares of Nexstar Media Group by 1.8% in the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after buying an additional 11,477 shares during the period. Strategic Investment Advisors MI acquired a new stake in shares of Nexstar Media Group in the first quarter worth $154,000. Finally, Amundi boosted its position in shares of Nexstar Media Group by 120.0% in the first quarter. Amundi now owns 5,130 shares of the company’s stock worth $928,000 after buying an additional 2,798 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.