Nexstar Media Group (NASDAQ:NXST) Insider Sells $34,466.88 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 184 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $34,466.88. Following the completion of the transaction, the insider owned 5,018 shares in the company, valued at approximately $939,971.76. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Trading Down 4.0%

NASDAQ NXST opened at $178.43 on Friday. The company’s 50-day moving average price is $197.31 and its 200-day moving average price is $207.72. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a market cap of $5.45 billion, a PE ratio of 38.29, a PEG ratio of 0.47 and a beta of 0.97. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.2%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Benchmark cut their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Guggenheim increased their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $252.00 to $220.00 in a report on Friday, April 10th. One 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $259.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Torren Management LLC bought a new position in Nexstar Media Group during the 4th quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the 3rd quarter worth about $28,000. Root Financial Partners LLC purchased a new stake in shares of Nexstar Media Group during the third quarter valued at about $31,000. WPG Advisers LLC lifted its position 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 buying an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after buying an additional 125 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.