Nexstar Media Group (NASDAQ:NXST) Insider Dan Lanzano Sells 237 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dan Lanzano sold 237 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $196.37, for a total value of $46,539.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Stock Performance

NASDAQ NXST traded down $1.57 on Tuesday, reaching $194.98. The stock had a trading volume of 48,528 shares, compared to its average volume of 387,095. 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 has a fifty day moving average of $206.87 and a two-hundred day moving average of $208.25. Nexstar Media Group, Inc. has a 1-year low of $164.00 and a 1-year high of $254.30. The company has a market cap of $5.95 billion, a P/E ratio of 41.84, a price-to-earnings-growth ratio of 0.59 and a beta of 0.97.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, May 15th. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

Institutional Trading of Nexstar Media Group

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Nexstar Media Group by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock valued at $284,738,000 after acquiring an additional 10,949 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Nexstar Media Group by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock worth $239,950,000 after buying an additional 23,360 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after buying an additional 187,864 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Nexstar Media Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after buying an additional 13,084 shares during the last quarter. Finally, Janus Henderson Group PLC lifted 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 worth $116,427,000 after buying an additional 11,477 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $252.00 to $220.00 in a report on Friday, April 10th. Wells Fargo & Company cut their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Barrington Research reiterated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Benchmark cut their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One equities research 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, the company has an average rating of “Buy” and a consensus target price 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.