Nexstar Media Group (NASDAQ:NXST) EVP Lindsey Knapp Sells 92 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lindsey Knapp sold 92 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $17,233.44. Following the completion of the transaction, the executive vice president directly owned 1,160 shares in the company, valued at $217,291.20. This represents a 7.35% 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 Stock Performance

Shares of NXST opened at $185.12 on Thursday. The firm’s 50 day moving average is $199.35 and its 200-day moving average is $207.96. The stock has a market capitalization of $5.65 billion, a P/E ratio of 39.73, a P/E/G ratio of 0.51 and a beta of 0.97. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. Nexstar Media Group’s payout ratio is currently 159.66%.

Trending Headlines about Nexstar Media Group

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

• Neutral Sentiment: Multiple Nexstar executives and insiders, including Brett Jenkins, Michael Biard, Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, sold shares at $187.32 as part of equity vesting tax obligations. SEC filing reference
• Positive Sentiment: Several analysts remain constructive on NXST, with recent upgrades and raised price targets helping offset some of the insider-sale concern. MarketBeat NXST page
• Negative Sentiment: The cluster of insider sales may create a short-term overhang, since investors often view repeated insider disposals as a cautious signal even when they are non-discretionary. SEC filing reference

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. 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. 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 note on Monday, April 6th. Guggenheim lifted their price objective 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. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $259.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NXST. Torren Management LLC acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group during the third quarter worth approximately $28,000. Root Financial Partners LLC acquired a new stake in shares of Nexstar Media Group during the third quarter worth approximately $31,000. WPG Advisers LLC boosted 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 purchasing an additional 71 shares during the period. Finally, Hantz Financial Services Inc. boosted 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 purchasing an additional 125 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.