Nexstar Media Group (NASDAQ:NXST) Insider Sells $127,424.26 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 746 shares of Nexstar Media Group stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $127,424.26. Following the sale, the insider directly owned 14,549 shares of the company’s stock, valued at $2,485,114.69. This represents a 4.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Wednesday, June 10th, Andrew Alford sold 778 shares of Nexstar Media Group stock. The shares were sold at an average price of $176.42, for a total transaction of $137,254.76.
• 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 stock was 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 stock was sold at an average price of $187.32, for a total transaction of $73,991.40.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $164.16 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market capitalization of $5.01 billion, a P/E ratio of 35.23, a P/E/G ratio of 0.42 and a beta of 0.91. Nexstar Media Group, Inc. has a 12-month low of $163.46 and a 12-month high of $254.30. The firm has a 50-day moving average price of $189.91 and a two-hundred day moving average price of $206.64.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s payout ratio is presently 159.66%.

Wall Street Analyst Weigh In

NXST has been the topic of a number of analyst reports. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Benchmark reduced their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Guggenheim raised their price target on 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 restated an “outperform” rating and issued a $290.00 price target 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 given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $259.67.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently modified their holdings of NXST. Torren Management LLC acquired a new stake in Nexstar Media Group in the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new position in Nexstar Media Group during the third quarter worth about $28,000. WPG Advisers LLC raised its stake 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 acquiring an additional 71 shares in the last quarter. State of Wyoming bought a new position in shares of Nexstar Media Group in the second quarter worth about $54,000. Finally, Danske Bank A S bought a new position in shares of Nexstar Media Group in the third quarter worth about $59,000. 95.30% of the stock is currently owned by 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.