Insider Selling: Nexstar Media Group (NASDAQ:NXST) EVP Sells 319 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 319 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 $58,191.98. Following the sale, the executive vice president directly owned 27,390 shares of the company’s stock, valued at $4,996,483.80. The trade was a 1.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Blake Russell also recently made the following trade(s):

• On Wednesday, May 27th, Blake Russell sold 185 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $34,654.20.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $1.01 during midday trading on Friday, hitting $182.02. The stock had a trading volume of 207,222 shares, compared to its average volume of 333,002. The firm’s fifty day moving average is $193.11 and its two-hundred day moving average is $207.52. The company has a market capitalization of $5.56 billion, a PE ratio of 39.06, a P/E/G ratio of 0.45 and a beta of 0.91. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53.

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%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NXST. Guggenheim increased their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Barrington Research reissued an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft reduced 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 report on Monday, May 11th. Finally, Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Nexstar Media Group presently has a consensus rating of “Buy” and a consensus price target of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently added to or reduced their stakes in NXST. Dorsal Capital Management LP purchased a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $74,152,000. QVT Financial LP grew its holdings in Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after buying an additional 310,562 shares in the last quarter. AQR Capital Management LLC grew its holdings in Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after buying an additional 294,308 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after buying an additional 228,603 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Nexstar Media Group during the 4th quarter valued at approximately $41,474,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.