Nexstar Media Group (NASDAQ:NXST) Insider Sells $149,629.56 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 876 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $149,629.56. Following the completion of the sale, the insider directly owned 5,800 shares of the company’s stock, valued at $990,698. The trade was a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 Wednesday, June 10th, Dana Zimmer sold 915 shares of Nexstar Media Group stock. The shares were sold at an average price of $176.42, for a total transaction of $161,424.30.
• 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 stock was sold at an average price of $187.32, for a total transaction of $87,103.80.

Nexstar Media Group Trading Down 1.0%

Shares of Nexstar Media Group stock opened at $164.16 on Friday. Nexstar Media Group, Inc. has a 1 year low of $163.46 and a 1 year high of $254.30. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $5.01 billion, a P/E ratio of 35.23, a PEG ratio of 0.42 and a beta of 0.91. The company’s fifty day moving average is $189.91 and its two-hundred day moving average is $206.64.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s payout ratio is 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently made changes to their positions in the stock. Torren Management LLC purchased a new position in shares of Nexstar Media Group in the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group during the third quarter worth about $28,000. WPG Advisers LLC boosted its holdings in 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 buying an additional 71 shares in the last quarter. State of Wyoming acquired a new position in Nexstar Media Group during the second quarter worth about $54,000. Finally, Danske Bank A S purchased a new position in Nexstar Media Group in the third quarter valued at about $59,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barrington Research reissued an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Benchmark lowered their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nexstar Media Group currently has an average rating of “Buy” and an average 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.