Nexstar Media Group (NASDAQ:NXST) Insider Sells $78,987.86 in 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 shares were sold at an average price of $182.42, for a total transaction of $78,987.86. Following the transaction, the insider owned 3,777 shares in the company, valued at $689,000.34. This represents a 10.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $87,103.80.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $182.02 on Monday. The firm’s 50 day moving average price is $193.11 and its 200-day moving average price is $207.66. Nexstar Media Group, Inc. has a twelve month low of $164.00 and a twelve month high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a market capitalization of $5.56 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91.

Nexstar Media Group Announces Dividend

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

Key Stories Impacting 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

Analysts Set New Price Targets

NXST has been the subject of a number of research analyst reports. Guggenheim increased 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. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, April 28th. Benchmark cut their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Finally, Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Buy” and an average price target of $259.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC boosted its position 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 valued at $1,633,000 after acquiring an additional 8,913 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Nexstar Media Group during the 1st quarter valued at approximately $1,229,000. Bank of America Corp DE boosted its position 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 valued at $31,332,000 after acquiring an additional 25,193 shares during the last quarter. Janus Henderson Group PLC boosted its position 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 valued at $116,427,000 after acquiring an additional 11,477 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new position in shares of Nexstar Media Group during the 1st quarter valued at approximately $154,000. 95.30% of the stock is currently owned by institutional investors.

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.