Nexstar Media Group (NASDAQ:NXST) Insider Gary Weitman Sells 319 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 319 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $182.42, for a total value of $58,191.98. Following the sale, the insider owned 6,012 shares of the company’s stock, valued at $1,096,709.04. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a legal 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.

Gary Weitman also recently made the following trade(s):

• On Wednesday, May 27th, Gary Weitman sold 184 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $34,466.88.

Nexstar Media Group Trading Up 0.6%

Shares of NASDAQ NXST opened at $182.02 on Friday. 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 stock has a market capitalization of $5.56 billion, a P/E ratio of 39.06, a price-to-earnings-growth 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. The business has a fifty day moving average price of $193.11 and a 200 day moving average price of $207.52.

Nexstar Media Group Dividend Announcement

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

Key Nexstar Media Group News

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

Analyst Ratings Changes

NXST has been the subject of a number of analyst reports. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Guggenheim increased 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. Finally, Benchmark decreased their price target on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in Nexstar Media Group by 7,750.4% in the first quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock valued at $1,633,000 after buying an additional 8,913 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Nexstar Media Group in the first quarter valued at about $1,229,000. Bank of America Corp DE raised its stake in Nexstar Media Group by 17.0% in the first quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock valued at $31,332,000 after buying an additional 25,193 shares during the last quarter. Janus Henderson Group PLC raised its stake in Nexstar Media Group by 1.8% in the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock valued at $116,427,000 after buying an additional 11,477 shares during the last quarter. Finally, Strategic Investment Advisors MI acquired a new position in shares of Nexstar Media Group in the first quarter valued at about $154,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.