Nexstar Media Group (NASDAQ:NXST) CEO Purchases 12,235 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry Sook bought 12,235 shares of the stock in a transaction on Friday, June 26th. The stock was purchased at an average price of $162.26 per share, for a total transaction of $1,985,251.10. Following the purchase, the chief executive officer directly owned 899,044 shares of the company’s stock, valued at approximately $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nexstar Media Group Stock Up 3.2%

Shares of NXST traded up $5.24 during midday trading on Monday, reaching $169.24. 383,846 shares of the stock were exchanged, compared to its average volume of 394,530. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 0.41 and a beta of 0.91. 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 12-month low of $154.47 and a 12-month high of $254.30. The firm has a 50 day simple moving average of $187.12 and a 200-day simple moving average of $205.51.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NXST. Torren Management LLC bought a new position in shares of Nexstar Media Group in the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group in the third quarter valued at approximately $28,000. WPG Advisers LLC increased its holdings in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares in the last quarter. State of Wyoming bought a new position in Nexstar Media Group in the 2nd quarter worth approximately $54,000. Finally, Danske Bank A S bought a new position in Nexstar Media Group in the 3rd quarter worth approximately $59,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NXST shares. 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. 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. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Wells Fargo & Company decreased their target price on shares of 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. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target 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.