Nexstar Media Group (NASDAQ:NXST) Insider Sells $34,466.88 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 184 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total value of $34,466.88. Following the completion of the sale, the insider owned 5,018 shares in the company, valued at approximately $939,971.76. The trade was a 3.54% decrease in their position. The transaction was disclosed in a document filed 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 Trading Down 1.5%

Shares of NXST traded down $2.91 during trading hours on Wednesday, reaching $185.12. 324,271 shares of the company traded hands, compared to its average volume of 384,860. The stock’s fifty day moving average price is $200.38 and its 200 day moving average price is $207.99. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 0.48 and a beta of 0.97. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30.

Nexstar Media Group Dividend Announcement

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

More Nexstar Media Group News

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

• Neutral Sentiment: Multiple Nexstar insiders sold shares at $187.32, but the filings say the transactions were to satisfy tax withholding obligations related to equity vesting. SEC filing for Michael Biard
• Neutral Sentiment: Additional insider sales were disclosed by Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Brett Jenkins, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, adding to the near-term overhang on sentiment. SEC filing for Lee Ann Gliha
• Negative Sentiment: The cluster of insider sales may cause investors to question whether management sees limited near-term upside, even though the trades appear to be routine and not necessarily a negative fundamental signal. SEC filing for Gary Weitman

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NXST shares. Barrington Research restated an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wells Fargo & Company lowered their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Guggenheim boosted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. One equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $259.67.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently bought and sold shares of NXST. Integrated Wealth Concepts LLC purchased a new stake in Nexstar Media Group during the first quarter worth $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Nexstar Media Group by 49.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock worth $2,844,000 after buying an additional 5,251 shares during the period. Millennium Management LLC lifted its holdings in Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after buying an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after buying an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Nexstar Media Group during the first quarter worth $654,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.