Nexstar Media Group (NASDAQ:NXST) Insider Brett Jenkins Sells 229 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 229 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total value of $42,896.28. Following the transaction, the insider directly owned 27,061 shares in the company, valued at approximately $5,069,066.52. This trade represents a 0.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $185.12 on Thursday. The business’s 50 day moving average price is $199.35 and its two-hundred day moving average price is $207.96. The company has a market cap of $5.65 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 0.51 and a beta of 0.97. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a twelve month low of $164.00 and a twelve month high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its position in shares of Nexstar Media Group by 63.0% in the 3rd quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock worth $96,557,000 after acquiring an additional 188,695 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Nexstar Media Group by 43.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 279,336 shares of the company’s stock worth $55,236,000 after acquiring an additional 84,163 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Nexstar Media Group by 19.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock worth $5,507,000 after acquiring an additional 4,616 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Nexstar Media Group by 2,272.2% in the 3rd quarter. Alps Advisors Inc. now owns 49,460 shares of the company’s stock worth $9,780,000 after acquiring an additional 47,375 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Nexstar Media Group by 2,573.4% in the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after acquiring an additional 134,871 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group News Roundup

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

• Neutral Sentiment: Multiple Nexstar insiders sold shares at $187.32, but the filings say the transactions were to satisfy tax withholding obligations related to equity vesting. SEC filing for Michael Biard
• Neutral Sentiment: Additional insider sales were disclosed by Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Brett Jenkins, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, adding to the near-term overhang on sentiment. SEC filing for Lee Ann Gliha
• Negative Sentiment: The cluster of insider sales may cause investors to question whether management sees limited near-term upside, even though the trades appear to be routine and not necessarily a negative fundamental signal. SEC filing for Gary Weitman

Analyst Upgrades and Downgrades

NXST has been the topic of several research reports. Wells Fargo & Company decreased their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Guggenheim upped their target price 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. Deutsche Bank Aktiengesellschaft decreased their target price 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. Finally, Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $259.67.

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.