Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells $83,357.40 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Sean Compton sold 445 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $83,357.40. Following the completion of the transaction, the insider directly owned 11,807 shares of the company’s stock, valued at approximately $2,211,687.24. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Compton also recently made the following trade(s):

• On Tuesday, May 19th, Sean Compton sold 5,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $178.43 on Friday. The firm has a market cap of $5.45 billion, a PE ratio of 38.29, a PEG ratio of 0.47 and a beta of 0.97. 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 1-year low of $164.00 and a 1-year high of $254.30. The company has a fifty day moving average price of $197.31 and a 200 day moving average price of $207.72.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid 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 yield of 4.2%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NXST shares. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday. Benchmark reduced their price objective 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. Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Buy” and a consensus target price of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently modified their holdings of NXST. Dorsal Capital Management LP bought a new stake in shares of Nexstar Media Group in the 3rd quarter valued at about $74,152,000. QVT Financial LP raised its holdings in shares of Nexstar Media Group by 200.0% in the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after purchasing an additional 310,562 shares during the period. AQR Capital Management LLC raised its holdings in shares of Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after purchasing an additional 294,308 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Nexstar Media Group by 157.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares during the period. Finally, Norges Bank bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $41,474,000. 95.30% of the stock is owned by institutional investors.

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.