Blake Russell Sells 185 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 185 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $34,654.20. Following the completion of the sale, the executive vice president owned 26,396 shares in the company, valued at approximately $4,944,498.72. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $185.94 on Friday. The company’s 50-day moving average price is $198.32 and its 200-day moving average price is $207.93. 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 company has a market cap of $5.68 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 0.50 and a beta of 0.97.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $1.86 dividend. The ex-dividend date is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. Nexstar Media Group’s payout ratio is 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently made changes to their positions in the company. CWA Asset Management Group LLC increased its position in shares of Nexstar Media Group by 1.7% during the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock valued at $630,000 after acquiring an additional 51 shares during the last quarter. Merit Financial Group LLC increased its position in shares of Nexstar Media Group by 1.6% during the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after acquiring an additional 56 shares during the last quarter. Truist Financial Corp increased its position in shares of Nexstar Media Group by 5.2% during the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock valued at $231,000 after acquiring an additional 56 shares during the last quarter. WPG Advisers LLC increased its position in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after acquiring an additional 80 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Benchmark dropped their price target 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. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $259.67.

Nexstar Media Group News Summary

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

• Positive Sentiment: NXST was highlighted in a Zacks piece on PEG-driven value stocks, which can support the bull case by keeping the name on investors’ radar as a relatively undervalued growth stock. Article title
• Neutral Sentiment: Several Nexstar executives and insiders sold shares at $187.32, but the filings say the transactions were made to cover tax withholding tied to equity award vesting, which usually limits the bearish signal. SEC filing reference
• Neutral Sentiment: Reported short interest was shown as zero shares, so there is no meaningful short-selling data in this update to explain the stock’s move. Article reference
• Negative Sentiment: The cluster of insider sales from multiple executives, including the COO and several EVPs, may weigh on sentiment in the near term even though the sales were non-discretionary. MarketBeat insider trades page

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.