Nexstar Media Group (NASDAQ:NXST) Insider Brett Jenkins Sells 397 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 397 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 $72,420.74. Following the sale, the insider owned 27,977 shares in the company, valued at $5,103,564.34. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 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 transaction of $42,896.28.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $182.02 on Friday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $5.56 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. The company’s 50 day moving average price is $193.11 and its two-hundred day moving average price is $207.52. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Trending Headlines about Nexstar Media Group

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

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its position in 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 purchasing an additional 8,913 shares during the period. Western Wealth Management LLC bought a new position in Nexstar Media Group during the first quarter worth $1,229,000. Bank of America Corp DE boosted its position in 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 purchasing an additional 25,193 shares during the period. Janus Henderson Group PLC boosted its position in 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 purchasing an additional 11,477 shares during the period. Finally, Strategic Investment Advisors MI bought a new position in Nexstar Media Group during the first quarter worth $154,000. 95.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on NXST. Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings restated 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 dropped their target price for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Finally, Guggenheim lifted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average 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.