Sean Compton Sells 445 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Sean Compton sold 445 shares of Nexstar Media Group stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total value of $83,357.40. Following the transaction, the insider owned 11,807 shares in the company, valued at $2,211,687.24. This trade represents a 3.63% 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.

Sean Compton also recently made the following trade(s):

• On Tuesday, May 19th, Sean Compton sold 5,000 shares of Nexstar Media Group stock. The shares were sold at an average price of $196.00, for a total value of $980,000.00.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $185.94 on Friday. The business’s fifty day moving average is $198.32 and its 200 day moving average is $207.93. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The company has a market capitalization of $5.68 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 0.50 and a beta of 0.97. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76.

Nexstar Media Group Dividend Announcement

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

Key Headlines Impacting 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 analysts have recently commented on NXST shares. Benchmark lowered their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Guggenheim boosted their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday. Finally, Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds have recently made changes to their positions in NXST. Torren Management LLC purchased a new stake in shares of Nexstar Media Group in the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nexstar Media Group in the third quarter worth about $28,000. Root Financial Partners LLC purchased a new stake in shares of Nexstar Media Group in the third quarter worth about $31,000. WPG Advisers LLC lifted its position 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 in the last quarter. Finally, Hantz Financial Services Inc. lifted its position 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 in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.