Blake Russell Sells 319 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 319 shares of Nexstar Media Group stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $182.42, for a total value of $58,191.98. Following the completion of the transaction, the executive vice president owned 27,390 shares of the company’s stock, valued at approximately $4,996,483.80. The trade was a 1.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Blake Russell also recently made the following trade(s):

• On Wednesday, May 27th, Blake Russell sold 185 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $34,654.20.

Nexstar Media Group Trading Up 0.6%

Shares of NXST opened at $182.02 on Friday. The stock has a fifty day moving average price of $193.11 and a two-hundred day moving average price of $207.52. 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 52-week low of $164.00 and a 52-week high of $254.30. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.46 and a beta of 0.91.

Nexstar Media Group Announces Dividend

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

Key Stories Impacting Nexstar Media Group

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

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Torren Management LLC bought a new stake in shares of Nexstar Media Group during the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group during the third quarter worth $28,000. WPG Advisers LLC grew its stake in shares of 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 purchasing an additional 71 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after purchasing an additional 125 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Nexstar Media Group during the second quarter worth $54,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Barrington Research restated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Benchmark dropped their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $259.67.

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.