Nexstar Media Group (NASDAQ:NXST) Insider Brett Jenkins Sells 284 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 284 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $50,103.28. Following the completion of the sale, the insider directly owned 28,443 shares of the company’s stock, valued at $5,017,914.06. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brett Jenkins also recently made the following trade(s):

• On Thursday, June 4th, Brett Jenkins sold 397 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total transaction of $72,420.74.
• On Wednesday, May 27th, Brett Jenkins sold 229 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $42,896.28.

Nexstar Media Group Trading Up 0.6%

Shares of NXST opened at $174.52 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30. The firm has a 50-day moving average price of $191.24 and a 200 day moving average price of $207.36. The firm has a market capitalization of $5.33 billion, a P/E ratio of 37.45, a P/E/G ratio of 0.44 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.3%. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

Nexstar Media Group News Roundup

Here are the key news stories impacting Nexstar Media Group this week:

• Neutral Sentiment: Several Nexstar executives and insiders, including EVP Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, and Blake Russell, sold shares at $176.42. The company says these sales were tied to tax-withholding obligations related to vesting equity awards, which makes them less concerning than open-market selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent reporting also noted that NXST has fallen over the past month and remains below key moving averages, suggesting continued technical weakness that may be weighing on sentiment. Nexstar Media Group stock down article
• Neutral Sentiment: The company still offers a relatively attractive dividend yield, but its payout ratio is elevated, which may temper enthusiasm from income-focused investors. Nexstar Media Group stock page

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of Nexstar Media Group by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock valued at $284,738,000 after purchasing an additional 10,949 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Nexstar Media Group by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after purchasing an additional 23,360 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Nexstar Media Group by 27.1% in the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares during the period. Geode Capital Management LLC boosted its stake in shares of Nexstar Media Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after purchasing an additional 13,084 shares during the period. Finally, 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 purchasing an additional 11,477 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Guggenheim increased 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. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Finally, Benchmark lowered their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. One 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 company. According to data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Buy” and a consensus target price of $259.67.

About Nexstar Media Group

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.