Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells 778 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 778 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $137,254.76. Following the completion of the transaction, the insider owned 14,357 shares of the company’s stock, valued at $2,532,861.94. The trade was a 5.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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, June 4th, Andrew Alford sold 368 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total transaction of $67,130.56.
• 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 Price Performance

Shares of NASDAQ:NXST traded up $1.11 during midday trading on Thursday, hitting $174.52. The stock had a trading volume of 342,542 shares, compared to its average volume of 381,985. The company’s 50-day moving average price is $191.36 and its 200-day moving average price is $207.47. The company has a market capitalization of $5.33 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. 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 fifty-two week low of $164.00 and a fifty-two week high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.3%. Nexstar Media Group’s payout ratio is presently 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

A number of 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 worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new stake in Nexstar Media Group during the 3rd quarter worth approximately $28,000. WPG Advisers LLC grew its holdings in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Nexstar Media Group by 164.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after acquiring an additional 125 shares during the last quarter. Finally, State of Wyoming bought a new stake in Nexstar Media Group during the 2nd quarter worth approximately $54,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NXST shares. Benchmark dropped their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Guggenheim lifted their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Wall Street Zen raised shares of 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 assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group presently 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.