Lee Ann Gliha Sells 742 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 742 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total transaction of $138,991.44. Following the completion of the transaction, the executive vice president owned 17,988 shares of the company’s stock, valued at approximately $3,369,512.16. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

Nexstar Media Group Stock Up 0.4%

Shares of NASDAQ NXST opened at $185.94 on Friday. The firm has a market cap of $5.68 billion, a PE ratio of 39.90, a P/E/G ratio of 0.50 and a beta of 0.97. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30. The company’s fifty day simple moving average is $198.32 and its 200 day simple moving average is $207.93. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $1.86 dividend. The ex-dividend date is Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Trending Headlines about Nexstar Media Group

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

• Positive Sentiment: NXST was highlighted in a Zacks piece on PEG-driven value stocks, which can support the bull case by keeping the name on investors’ radar as a relatively undervalued growth stock. Article title
• Neutral Sentiment: Several Nexstar executives and insiders sold shares at $187.32, but the filings say the transactions were made to cover tax withholding tied to equity award vesting, which usually limits the bearish signal. SEC filing reference
• Neutral Sentiment: Reported short interest was shown as zero shares, so there is no meaningful short-selling data in this update to explain the stock’s move. Article reference
• Negative Sentiment: The cluster of insider sales from multiple executives, including the COO and several EVPs, may weigh on sentiment in the near term even though the sales were non-discretionary. MarketBeat insider trades page

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Benchmark decreased their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Nexstar Media Group by 0.8% in the 4th 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. lifted its stake in Nexstar Media Group by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after acquiring an additional 23,360 shares during the period. Alliancebernstein L.P. lifted its stake in Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after acquiring an additional 187,864 shares during the period. Geode Capital Management LLC lifted its stake in Nexstar Media Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after acquiring an additional 13,084 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock valued at $116,427,000 after acquiring an additional 11,477 shares during the period. Institutional investors own 95.30% of the company’s stock.

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.