Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells $112,124.65 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 605 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $185.33, for a total value of $112,124.65. Following the sale, the insider directly owned 11,689 shares in the company, valued at $2,166,322.37. This trade represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Andrew Alford also recently made the following trade(s):

• On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $73,991.40.

Nexstar Media Group Stock Up 0.2%

Shares of NXST opened at $181.52 on Thursday. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 0.46 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. The business’s 50 day simple moving average is $194.65 and its 200-day simple moving average is $207.71. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $1.86 per share. 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 is 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

Several large investors have recently modified their holdings of NXST. Principal Financial Group Inc. increased its stake in Nexstar Media Group by 63.0% in the third quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock worth $96,557,000 after purchasing an additional 188,695 shares during the period. Allianz Asset Management GmbH increased its stake in Nexstar Media Group by 43.1% in the third quarter. Allianz Asset Management GmbH now owns 279,336 shares of the company’s stock worth $55,236,000 after purchasing an additional 84,163 shares during the period. Advisors Asset Management Inc. increased its stake in Nexstar Media Group by 19.9% in the third quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock worth $5,507,000 after purchasing an additional 4,616 shares during the period. Alps Advisors Inc. increased its stake in Nexstar Media Group by 2,272.2% in the third quarter. Alps Advisors Inc. now owns 49,460 shares of the company’s stock worth $9,780,000 after purchasing an additional 47,375 shares during the period. Finally, M&T Bank Corp increased its stake in Nexstar Media Group by 2,573.4% in the fourth quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after purchasing an additional 134,871 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Wells Fargo & Company cut 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. Citigroup raised 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 research report on Friday, April 10th. Finally, Barrington Research reissued an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price 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.