Nexstar Media Group (NASDAQ:NXST) Insider Andrew Alford Sells 605 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 605 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $185.33, for a total transaction of $112,124.65. Following the sale, the insider directly owned 11,689 shares of the company’s stock, valued at approximately $2,166,322.37. The trade was a 4.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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

Shares of NXST stock traded up $5.97 during mid-day trading on Monday, reaching $184.40. 414,551 shares of the company’s stock traded hands, compared to its average volume of 386,162. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The firm has a 50 day moving average price of $197.31 and a two-hundred day moving average price of $207.84. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market capitalization of $5.63 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. Nexstar Media Group’s payout ratio is presently 159.66%.

Analysts Set New Price Targets

Several research analysts recently weighed in on NXST shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. 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 report on Monday, April 6th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday. 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 analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Buy” and a consensus price target of $259.67.

Institutional Trading of Nexstar Media Group

Several hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new stake in Nexstar Media Group in the 1st quarter worth about $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Nexstar Media Group by 49.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after purchasing an additional 5,251 shares in the last quarter. Millennium Management LLC boosted its stake in Nexstar Media Group by 571.4% in the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after acquiring an additional 61,830 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Nexstar Media Group by 14.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock valued at $23,802,000 after acquiring an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Nexstar Media Group in the first quarter valued at approximately $654,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

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.