Nexstar Media Group (NASDAQ:NXST) Insider Andrew Alford Sells 778 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 778 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $137,254.76. Following the sale, the insider directly owned 14,357 shares in the company, valued at $2,532,861.94. The trade was a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Alford also recently made the following trade(s):

• On Thursday, June 4th, Andrew Alford sold 368 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $67,130.56.
• On Thursday, May 28th, Andrew Alford sold 605 shares of Nexstar Media Group stock. The shares were sold at an average price of $185.33, for a total value of $112,124.65.
• On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $73,991.40.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $174.52 on Friday. Nexstar Media Group, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30. The firm has a 50 day moving average of $191.24 and a 200-day moving average of $207.36. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a market capitalization of $5.33 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 0.44 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. Stockholders of record on Friday, May 15th were paid a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.3%. Nexstar Media Group’s payout ratio is 159.66%.

Nexstar Media Group News Summary

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

• Neutral Sentiment: Director Charles Thomas McMillen sold 1,000 shares, and the filing says the transaction was for tax withholding related to equity award vesting. Nexstar Media Group insider filing
• Neutral Sentiment: Multiple other insiders also sold shares at the same $176.42 price level, including Andrew Alford, Sean Compton, Dana Zimmer, Lee Ann Gliha, and Blake Russell, all citing tax-withholding obligations. Nexstar Media Group insider filing
• Neutral Sentiment: Recent reporting also highlighted that NXST has fallen over the past month and remains below key moving averages, signaling continued technical weakness. Nexstar Media Group stock down article
• Neutral Sentiment: The company’s dividend yield remains attractive, but the payout ratio is elevated, which may limit enthusiasm among income-focused investors. Nexstar Media Group stock page

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its position in Nexstar Media Group by 7,750.4% in the 1st 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 last quarter. Western Wealth Management LLC bought a new position in Nexstar Media Group in the 1st quarter worth approximately $1,229,000. Bank of America Corp DE raised its position in Nexstar Media Group by 17.0% in the 1st 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 last quarter. Janus Henderson Group PLC raised its position in Nexstar Media Group by 1.8% in the 1st 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 last quarter. Finally, Strategic Investment Advisors MI bought a new position in Nexstar Media Group in the 1st quarter worth approximately $154,000. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NXST. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their target price for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Benchmark cut their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Finally, Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.