Nexstar Media Group (NASDAQ:NXST) Insider Sells $75,521.88 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Sean Compton sold 414 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $182.42, for a total value of $75,521.88. Following the sale, the insider owned 12,331 shares of the company’s stock, valued at $2,249,421.02. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Compton also recently made the following trade(s):

• On Wednesday, May 27th, Sean Compton sold 445 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $83,357.40.
• On Tuesday, May 19th, Sean Compton sold 5,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $196.00, for a total value of $980,000.00.

Nexstar Media Group Price Performance

Shares of NXST opened at $182.02 on Monday. 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, Inc. has a one year low of $164.00 and a one year high of $254.30. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.46 and a beta of 0.91. The stock has a 50 day moving average price of $193.11 and a 200 day moving average price of $207.66.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 159.66%.

Analyst Ratings Changes

NXST has been the subject of several recent research reports. Wells Fargo & Company cut their price target 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. Guggenheim raised their target price on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Nexstar Media Group has a consensus rating of “Buy” and a consensus target price of $259.67.

Key Stories Impacting Nexstar Media Group

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

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Institutional Trading of Nexstar Media Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its stake in shares of Nexstar Media Group by 7,750.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock worth $1,633,000 after acquiring an additional 8,913 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of Nexstar Media Group in the 1st quarter worth $1,229,000. Bank of America Corp DE increased its stake in shares of Nexstar Media Group by 17.0% in the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after acquiring an additional 25,193 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after purchasing an additional 11,477 shares during the period. Finally, Strategic Investment Advisors MI purchased a new position in shares of Nexstar Media Group during the 1st quarter worth $154,000. 95.30% of the stock is owned by institutional investors and hedge funds.

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.