Blake Russell Sells 239 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 239 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $42,164.38. Following the completion of the transaction, the executive vice president owned 27,901 shares in the company, valued at approximately $4,922,294.42. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Thursday, June 4th, Blake Russell sold 319 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total transaction of $58,191.98.
• 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 Down 0.0%

NXST stock opened at $174.50 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company’s 50 day moving average is $191.14 and its 200 day moving average is $207.13. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 37.45, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91. Nexstar Media Group, Inc. has a 1-year low of $164.00 and a 1-year high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is 159.66%.

Analyst Ratings Changes

Several brokerages have issued reports on NXST. Wells Fargo & Company dropped their price target on 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $259.67.

Trending Headlines about Nexstar Media Group

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

• Neutral Sentiment: Several Nexstar executives, including Blake Russell, Andrew Alford, Sean Compton, Dana Zimmer, and Lee Ann Gliha, sold shares at $176.42. The filings say these were tax-withholding sales tied to equity award vesting, which usually makes them less concerning than discretionary insider selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent coverage noted that NXST has been weakening over the past month and remains below key moving averages, suggesting bearish momentum may be contributing to the stock’s decline. Nexstar Media Group stock down article
• Neutral Sentiment: Nexstar continues to offer a sizable dividend yield, but the payout ratio is elevated, which may limit upside enthusiasm from income investors. Nexstar Media Group stock page

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently added to or reduced their stakes in NXST. Torren Management LLC bought a new stake in Nexstar Media Group during the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the third quarter worth about $28,000. WPG Advisers LLC increased its holdings in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after buying an additional 125 shares during the period. Finally, State of Wyoming purchased a new position in shares of Nexstar Media Group in the second quarter worth about $54,000. 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.