Sean Compton Sells 875 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Sean Compton sold 875 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 value of $154,367.50. Following the completion of the transaction, the insider directly owned 14,332 shares in the company, valued at approximately $2,528,451.44. The trade was a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Compton also recently made the following trade(s):

• On Thursday, June 4th, Sean Compton sold 414 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $75,521.88.
• On Wednesday, May 27th, Sean Compton sold 445 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $83,357.40.
• On Tuesday, May 19th, Sean Compton sold 5,000 shares of Nexstar Media Group stock. The shares were sold at an average price of $196.00, for a total value of $980,000.00.

Nexstar Media Group Trading Down 0.0%

NASDAQ:NXST opened at $174.50 on Friday. The stock’s 50 day simple moving average is $191.14 and its 200-day simple moving average is $207.13. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30. The firm has a market cap of $5.33 billion, a P/E ratio of 37.45, a PEG ratio of 0.44 and a beta of 0.91. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

Key Stories Impacting Nexstar Media Group

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

• Neutral Sentiment: Several Nexstar executives, including Blake Russell, Andrew Alford, Sean Compton, Dana Zimmer, and Lee Ann Gliha, sold shares at $176.42. The filings say these were tax-withholding sales tied to equity award vesting, which usually makes them less concerning than discretionary insider selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent coverage noted that NXST has been weakening over the past month and remains below key moving averages, suggesting bearish momentum may be contributing to the stock’s decline. Nexstar Media Group stock down article
• Neutral Sentiment: Nexstar continues to offer a sizable dividend yield, but the payout ratio is elevated, which may limit upside enthusiasm from income investors. Nexstar Media Group stock page

Analyst Ratings Changes

A number of research analysts recently weighed in on NXST shares. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, April 28th. Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $259.67.

Institutional Trading of Nexstar Media Group

A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Nexstar Media Group by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock worth $284,738,000 after purchasing an additional 10,949 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Nexstar Media Group by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock worth $239,950,000 after purchasing an additional 23,360 shares in the last quarter. Alliancebernstein L.P. boosted its position in Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after purchasing an additional 187,864 shares in the last quarter. Geode Capital Management LLC boosted its position in Nexstar Media Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after purchasing an additional 13,084 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Nexstar Media Group by 1.8% during the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after purchasing an additional 11,477 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.