Andrew Alford Sells 368 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 368 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $182.42, for a total transaction of $67,130.56. Following the transaction, the insider owned 12,259 shares of the company’s stock, valued at approximately $2,236,286.78. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Alford also recently made the following trade(s):

• On Thursday, May 28th, Andrew Alford sold 605 shares of Nexstar Media Group stock. The shares were sold at an average price of $185.33, for a total transaction of $112,124.65.
• On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $73,991.40.

Nexstar Media Group Stock Performance

NXST traded up $1.01 during trading on Friday, hitting $182.02. 207,222 shares of the company traded hands, compared to its average volume of 333,002. The firm has a market cap of $5.56 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. The stock’s fifty day moving average is $193.11 and its 200 day moving average is $207.52. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 4.1%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC bought a new position in Nexstar Media Group during the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the third quarter worth about $28,000. WPG Advisers LLC boosted its position in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares during the period. Hantz Financial Services Inc. boosted its position in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after purchasing an additional 125 shares during the period. Finally, Danske Bank A S bought a new position in shares of Nexstar Media Group in the third quarter valued at approximately $59,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Guggenheim increased their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Barrington Research reiterated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target 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.