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

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 319 shares of the firm’s 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 transaction, the insider owned 6,012 shares in the company, valued at $1,096,709.04. This represents a 5.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gary Weitman also recently made the following trade(s):

• On Wednesday, May 27th, Gary Weitman sold 184 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $34,466.88.

Nexstar Media Group Trading Up 0.6%

Shares of Nexstar Media Group stock traded up $1.01 on Friday, hitting $182.02. The stock had a trading volume of 207,222 shares, compared to its average volume of 333,002. 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 one year low of $164.00 and a one year high of $254.30. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.45 and a beta of 0.91. The stock’s 50-day simple moving average is $193.11 and its two-hundred day simple moving average is $207.52.

Nexstar Media Group Announces Dividend

The business 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 was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.1%. Nexstar Media Group’s payout ratio is 159.66%.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently modified their holdings of NXST. Dorsal Capital Management LP bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $74,152,000. QVT Financial LP boosted its holdings in shares of Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after buying an additional 310,562 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after buying an additional 294,308 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after buying an additional 228,603 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Nexstar Media Group during the 4th quarter valued at $41,474,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NXST. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $252.00 to $220.00 in a report on Friday, April 10th. Benchmark cut their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.