Nexstar Media Group (NASDAQ:NXST) Insider Brett Jenkins Sells 284 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 284 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $50,103.28. Following the sale, the insider directly owned 28,443 shares in the company, valued at approximately $5,017,914.06. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brett Jenkins also recently made the following trade(s):

• On Thursday, June 4th, Brett Jenkins sold 397 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $72,420.74.
• On Wednesday, May 27th, Brett Jenkins sold 229 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $42,896.28.

Nexstar Media Group Price Performance

Shares of NXST traded up $1.11 during trading hours on Thursday, hitting $174.52. 342,542 shares of the company were exchanged, compared to its average volume of 381,985. The firm’s fifty day moving average is $191.36 and its 200 day moving average is $207.47. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 37.45, a P/E/G ratio of 0.45 and a beta of 0.91. 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, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30.

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 paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.3%. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently made changes to their positions in NXST. NewEdge Advisors LLC raised its position in shares of Nexstar Media Group by 7,750.4% during the first quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock worth $1,633,000 after acquiring an additional 8,913 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Nexstar Media Group during the first quarter worth about $1,229,000. Bank of America Corp DE raised its position in shares of Nexstar Media Group by 17.0% during the first quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after acquiring an additional 25,193 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of 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 acquiring an additional 11,477 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new position in shares of Nexstar Media Group during the first quarter worth about $154,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group News Roundup

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

• Neutral Sentiment: Director Charles Thomas McMillen sold 1,000 shares, and the filing says the transaction was for tax withholding related to equity award vesting. Nexstar Media Group insider filing
• Neutral Sentiment: Multiple other insiders also sold shares at the same $176.42 price level, including Andrew Alford, Sean Compton, Dana Zimmer, Lee Ann Gliha, and Blake Russell, all citing tax-withholding obligations. Nexstar Media Group insider filing
• Neutral Sentiment: Recent reporting also highlighted that NXST has fallen over the past month and remains below key moving averages, signaling continued technical weakness. Nexstar Media Group stock down article
• Neutral Sentiment: The company’s dividend yield remains attractive, but the payout ratio is elevated, which may limit enthusiasm among income-focused investors. Nexstar Media Group stock page

Analysts Set New Price Targets

Several analysts recently weighed in on NXST shares. Deutsche Bank Aktiengesellschaft reduced their price objective on 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. Guggenheim raised their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $259.67.

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.