Insider Selling: Nexstar Media Group (NASDAQ:NXST) EVP Sells $63,712.13 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 373 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $63,712.13. Following the sale, the executive vice president owned 20,075 shares of the company’s stock, valued at approximately $3,429,010.75. This represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Ann Gliha also recently made the following trade(s):

• On Wednesday, June 10th, Lee Ann Gliha sold 752 shares of Nexstar Media Group stock. The shares were sold at an average price of $176.42, for a total value of $132,667.84.
• On Thursday, June 4th, Lee Ann Gliha sold 258 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $47,064.36.
• On Wednesday, May 27th, Lee Ann Gliha sold 742 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $138,991.44.

Nexstar Media Group Stock Down 1.0%

NXST stock opened at $164.16 on Friday. The firm has a 50-day moving average price of $189.91 and a 200-day moving average price of $206.64. Nexstar Media Group, Inc. has a 12 month low of $163.46 and a 12 month high of $254.30. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a market capitalization of $5.01 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 0.42 and a beta of 0.91.

Nexstar Media Group Announces Dividend

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 $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.5%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Guggenheim boosted their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price target for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Wells Fargo & Company cut their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Barrington Research restated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC acquired a new position in shares of Nexstar Media Group during the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new stake in Nexstar Media Group in the third quarter valued at $28,000. WPG Advisers LLC increased its holdings in Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. State of Wyoming bought a new position in Nexstar Media Group during the 2nd quarter worth $54,000. Finally, Danske Bank A S bought a new position in Nexstar Media Group during the 3rd quarter worth $59,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.