Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells 5,000 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Sean Compton sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the sale, the insider directly owned 11,252 shares of the company’s stock, valued at $2,205,392. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Nexstar Media Group Price Performance

NXST traded down $7.21 during trading on Tuesday, reaching $189.33. 214,071 shares of the company traded hands, compared to its average volume of 388,657. 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 12-month low of $164.00 and a 12-month high of $254.30. The firm has a fifty day simple moving average of $206.87 and a 200 day simple moving average of $208.25. The company has a market cap of $5.78 billion, a P/E ratio of 40.54, a PEG ratio of 0.59 and a beta of 0.97.

Nexstar Media Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NXST. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wells Fargo & Company cut their target price on shares of 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 shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their target price for the company from $252.00 to $220.00 in a report on Friday, April 10th. Finally, Benchmark cut their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. One equities 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. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $259.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWA Asset Management Group LLC boosted its stake in 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 buying an additional 51 shares during the period. Merit Financial Group LLC boosted its stake in 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 buying an additional 56 shares during the period. Truist Financial Corp boosted its stake in 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 buying an additional 56 shares during the period. Verdence Capital Advisors LLC boosted its stake in Nexstar Media Group by 0.6% during the third quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after buying an additional 68 shares during the period. Finally, WPG Advisers LLC boosted its stake in 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 buying an additional 71 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.