Nexstar Media Group (NASDAQ:NXST) EVP Sells $44,581.41 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 261 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $44,581.41. Following the transaction, the executive vice president directly owned 28,296 shares in the company, valued at approximately $4,833,239.76. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, June 10th, Blake Russell sold 239 shares of Nexstar Media Group stock. The stock was sold at an average price of $176.42, for a total value of $42,164.38.
• On Thursday, June 4th, Blake Russell sold 319 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $58,191.98.
• 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 Price Performance

Shares of NASDAQ:NXST opened at $164.16 on Friday. 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 $163.46 and a twelve month high of $254.30. The stock’s 50 day moving average is $189.91 and its 200-day moving average is $206.64. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 0.42 and a beta of 0.91.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. The ex-dividend date 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%.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently made changes to their positions in NXST. Integrated Wealth Concepts LLC purchased a new position in Nexstar Media Group during the first quarter worth about $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nexstar Media Group by 49.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after buying an additional 5,251 shares during the last quarter. Millennium Management LLC increased its stake in Nexstar Media Group by 571.4% in the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after buying an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Nexstar Media Group by 14.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after buying an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Nexstar Media Group during the 1st quarter worth approximately $654,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Citigroup raised shares of 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 report on Friday, April 10th. Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Finally, Benchmark decreased their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently 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.