Insider Selling: Nexstar Media Group (NASDAQ:NXST) EVP Sells $58,191.98 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 319 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $182.42, for a total transaction of $58,191.98. Following the completion of the sale, the executive vice president owned 27,390 shares of the company’s stock, valued at $4,996,483.80. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Blake Russell also recently made the following trade(s):

• On Wednesday, May 27th, Blake Russell sold 185 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $34,654.20.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $182.02 on Monday. 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, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The company has a 50 day simple moving average of $193.11 and a two-hundred day simple moving average of $207.66. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.46 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. Shareholders of record on Friday, May 15th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s payout ratio is presently 159.66%.

More Nexstar Media Group News

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

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Analyst Ratings Changes

Several brokerages have commented on NXST. Guggenheim lifted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Benchmark decreased their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company decreased their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH increased its holdings in shares of Nexstar Media Group by 43.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 279,336 shares of the company’s stock valued at $55,236,000 after purchasing an additional 84,163 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Nexstar Media Group by 19.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock valued at $5,507,000 after purchasing an additional 4,616 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Nexstar Media Group by 2,272.2% during the 3rd quarter. Alps Advisors Inc. now owns 49,460 shares of the company’s stock valued at $9,780,000 after purchasing an additional 47,375 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Nexstar Media Group by 2,573.4% during the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock valued at $28,494,000 after purchasing an additional 134,871 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Nexstar Media Group by 5.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 93,334 shares of the company’s stock valued at $18,456,000 after purchasing an additional 4,609 shares in the last quarter. 95.30% of the stock is 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.