Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells $161,424.30 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 915 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $161,424.30. Following the sale, the insider directly owned 5,738 shares of the company’s stock, valued at approximately $1,012,297.96. The trade was a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dana Zimmer also recently made the following trade(s):

• On Thursday, June 4th, Dana Zimmer sold 433 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total transaction of $78,987.86.
• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $87,103.80.

Nexstar Media Group Price Performance

NXST opened at $174.50 on Friday. The company has a fifty day simple moving average of $191.14 and a 200 day simple moving average of $207.13. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 0.44 and a beta of 0.91. Nexstar Media Group, Inc. has a twelve month low of $164.00 and a twelve 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.

Nexstar Media Group Announces Dividend

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

Key Stories Impacting Nexstar Media Group

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

• Neutral Sentiment: Several Nexstar executives, including Blake Russell, Andrew Alford, Sean Compton, Dana Zimmer, and Lee Ann Gliha, sold shares at $176.42. The filings say these were tax-withholding sales tied to equity award vesting, which usually makes them less concerning than discretionary insider selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent coverage noted that NXST has been weakening over the past month and remains below key moving averages, suggesting bearish momentum may be contributing to the stock’s decline. Nexstar Media Group stock down article
• Neutral Sentiment: Nexstar continues to offer a sizable dividend yield, but the payout ratio is elevated, which may limit upside enthusiasm from income investors. Nexstar Media Group stock page

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC grew its holdings in Nexstar Media Group by 1.7% during the 4th quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock worth $630,000 after acquiring an additional 51 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of Nexstar Media Group by 1.6% in the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after buying an additional 56 shares during the last quarter. Truist Financial Corp lifted its position in shares of Nexstar Media Group by 5.2% in the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after buying an additional 56 shares during the last quarter. WPG Advisers LLC lifted its position in shares of Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Nexstar Media Group by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after buying an additional 80 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NXST. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Guggenheim raised their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group presently 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.