Dana Zimmer Sells 433 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 433 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $182.42, for a total value of $78,987.86. Following the completion of the transaction, the insider directly owned 3,777 shares of the company’s stock, valued at $689,000.34. The trade was a 10.29% decrease in their position. The transaction was disclosed in a document filed 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.

Dana Zimmer also recently made the following trade(s):

• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $87,103.80.

Nexstar Media Group Price Performance

NASDAQ NXST traded up $1.01 during trading hours on Friday, reaching $182.02. The company’s stock had a trading volume of 207,222 shares, compared to its average volume of 333,002. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 39.06, a P/E/G ratio of 0.45 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. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The company’s 50-day moving average is $193.11 and its two-hundred day moving average is $207.52.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.1%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Torren Management LLC purchased a new position in Nexstar Media Group in the fourth quarter worth approximately $28,000. Measured Wealth Private Client Group LLC purchased a new position in Nexstar Media Group in the third quarter worth approximately $28,000. WPG Advisers LLC grew its position in 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 acquiring an additional 71 shares during the period. Hantz Financial Services Inc. grew its position in 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 acquiring an additional 125 shares during the period. Finally, State of Wyoming purchased a new position in shares of Nexstar Media Group during the second quarter worth $54,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of a number of research analyst reports. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their target price for the company from $252.00 to $220.00 in a report on Friday, April 10th. Wells Fargo & Company reduced their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Barrington Research reissued an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Guggenheim increased their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. One research 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, Nexstar Media Group has an average rating of “Buy” and an average target price of $259.67.

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.