Nexstar Media Group (NASDAQ:NXST) Insider Sells $78,987.86 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 433 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $182.42, for a total value of $78,987.86. Following the transaction, the insider directly owned 3,777 shares in the company, valued at $689,000.34. This represents a 10.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dana Zimmer also recently made the following trade(s):

• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $87,103.80.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $1.01 during trading hours on Friday, hitting $182.02. 207,222 shares of the stock traded hands, compared to its average volume of 333,002. 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 firm’s 50 day moving average price is $193.11 and its 200-day moving average price is $207.52. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 39.06, a P/E/G ratio of 0.45 and a beta of 0.91. Nexstar Media Group, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s payout ratio is presently 159.66%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NXST shares. Guggenheim boosted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wells Fargo & Company dropped their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Buy” and an average price target of $259.67.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently modified their holdings of NXST. Integrated Wealth Concepts LLC purchased a new stake in shares of Nexstar Media Group in the first quarter worth about $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nexstar Media Group by 49.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock worth $2,844,000 after purchasing an additional 5,251 shares during the period. Millennium Management LLC raised its holdings in Nexstar Media Group by 571.4% in the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after purchasing an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Nexstar Media Group by 14.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after purchasing an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Nexstar Media Group in the 1st quarter worth about $654,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.