Gary Weitman Sells 319 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 319 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $182.42, for a total value of $58,191.98. Following the sale, the insider directly owned 6,012 shares of the company’s stock, valued at $1,096,709.04. This trade represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gary Weitman also recently made the following trade(s):

• On Wednesday, May 27th, Gary Weitman sold 184 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $34,466.88.

Nexstar Media Group Stock Up 0.6%

NXST opened at $182.02 on Friday. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The business has a 50-day moving average of $193.11 and a 200-day moving average of $207.52. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $5.56 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $1.86 per share. 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 4.1%. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NXST shares. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Wells Fargo & Company cut their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One investment 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 stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of “Buy” and a consensus price target of $259.67.

Key Headlines Impacting Nexstar Media Group

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

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NXST. Integrated Wealth Concepts LLC acquired a new position in shares of Nexstar Media Group during the 1st quarter valued at about $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Nexstar Media Group by 49.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after buying an additional 5,251 shares during the last quarter. Millennium Management LLC grew its holdings in Nexstar Media Group by 571.4% in the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after buying an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Nexstar Media Group by 14.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock valued at $23,802,000 after buying an additional 16,637 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Nexstar Media Group in the 1st quarter valued at approximately $654,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.