Insider Selling: Nexstar Media Group (NASDAQ:NXST) EVP Sells $47,064.36 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 258 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $182.42, for a total value of $47,064.36. Following the sale, the executive vice president owned 18,387 shares in the company, valued at $3,354,156.54. This represents a 1.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Ann Gliha also recently made the following trade(s):

• On Wednesday, May 27th, Lee Ann Gliha sold 742 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $138,991.44.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $182.02 on Monday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 39.06, a P/E/G ratio of 0.46 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 quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock’s fifty day simple moving average is $193.11 and its 200 day simple moving average is $207.66.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.1%. Nexstar Media Group’s payout ratio is currently 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently made changes to their positions in NXST. Torren Management LLC bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $28,000. WPG Advisers LLC boosted its position in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Nexstar Media Group by 164.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Nexstar Media Group during the 2nd quarter valued at about $54,000. Institutional investors own 95.30% of the company’s stock.

Key Stories 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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Guggenheim upped their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wells Fargo & Company reduced their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price target for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company 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.