Nexstar Media Group (NASDAQ:NXST) EVP Sells $34,654.20 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 185 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total transaction of $34,654.20. Following the completion of the sale, the executive vice president directly owned 26,396 shares of the company’s stock, valued at $4,944,498.72. This trade represents a 0.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $178.43 on Friday. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 0.47 and a beta of 0.97. The company has a fifty day moving average of $197.31 and a 200-day moving average of $207.72. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders 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 dividend yield of 4.2%. Nexstar Media Group’s dividend payout ratio is 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXST. Torren Management LLC bought a new stake in Nexstar Media Group during the 4th quarter valued at $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group in the 3rd quarter worth $28,000. Root Financial Partners LLC bought a new position in Nexstar Media Group in the 3rd quarter worth $31,000. WPG Advisers LLC raised its holdings in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after purchasing an additional 125 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $252.00 to $220.00 in a report on Friday, April 10th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Benchmark lowered their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $259.67.

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.