Nexstar Media Group (NASDAQ:NXST) Insider Sells $87,103.80 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 465 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total value of $87,103.80. Following the completion of the sale, the insider owned 3,272 shares of the company’s stock, valued at $612,911.04. The trade was a 12.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Price Performance

NXST opened at $178.43 on Friday. The stock has a fifty day moving average of $197.31 and a 200-day moving average of $207.72. The firm has a market capitalization of $5.45 billion, a P/E ratio of 38.29, a PEG ratio of 0.47 and a beta of 0.97. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30. 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 Dividend Announcement

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

Institutional Trading of Nexstar Media Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nexstar Media Group during the third quarter worth $28,000. Root Financial Partners LLC purchased a new stake in shares of Nexstar Media Group during the third quarter worth $31,000. WPG Advisers LLC raised its holdings 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 acquiring an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings 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 acquiring an additional 125 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXST has been the subject of a number of research analyst reports. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Guggenheim increased their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Barrington Research restated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Benchmark cut 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. Finally, Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $252.00 to $220.00 in a report on Friday, April 10th. One equities research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target 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.