Nexstar Media Group (NASDAQ:NXST) Insider Sells $73,991.40 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 395 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total value of $73,991.40. Following the transaction, the insider directly owned 12,294 shares in the company, valued at approximately $2,302,912.08. This trade represents a 3.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $178.43 on Friday. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The stock’s 50 day moving average is $197.31 and its 200-day moving average is $207.72. 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 company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 0.47 and a beta of 0.97.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.2%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NXST. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their target price for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Wells Fargo & Company decreased 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC bought a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $1,229,000. Bank of America Corp DE boosted its stake in shares of 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 period. Janus Henderson Group PLC boosted its stake in shares of 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 period. Strategic Investment Advisors MI bought a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $154,000. Finally, Amundi boosted its stake in shares of Nexstar Media Group by 120.0% in the first quarter. Amundi now owns 5,130 shares of the company’s stock valued at $928,000 after buying an additional 2,798 shares during the period. 95.30% of the stock is currently owned by 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.