Sean Compton Sells 414 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Sean Compton sold 414 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $182.42, for a total value of $75,521.88. Following the completion of the transaction, the insider owned 12,331 shares in the company, valued at $2,249,421.02. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 Wednesday, May 27th, Sean Compton sold 445 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $83,357.40.
• 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 Stock Performance

NASDAQ NXST traded up $1.01 on Friday, hitting $182.02. 207,222 shares of the company’s stock were exchanged, compared to its average volume of 333,002. 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 firm’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 fifty-two week low of $164.00 and a fifty-two week high of $254.30. The firm has a market cap 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $1.86 per share. 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 presently 159.66%.

Analyst Ratings Changes

Several equities analysts have issued reports on NXST shares. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Citigroup upgraded 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 research report on Friday, April 10th. Wells Fargo & Company dropped their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in shares of Nexstar Media Group by 7,750.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock worth $1,633,000 after acquiring an additional 8,913 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Nexstar Media Group during the 1st quarter worth approximately $1,229,000. Bank of America Corp DE boosted its stake in shares of Nexstar Media Group by 17.0% during the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after acquiring an additional 25,193 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after acquiring an additional 11,477 shares in the last quarter. Finally, Strategic Investment Advisors MI purchased a new stake in shares of Nexstar Media Group during the 1st quarter worth approximately $154,000. Hedge funds and other 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.