Nexstar Media Group (NASDAQ:NXST) Insider Andrew Alford Sells 368 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 368 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $182.42, for a total value of $67,130.56. Following the completion of the transaction, the insider owned 12,259 shares in the company, valued at $2,236,286.78. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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, 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 Trading Up 0.6%

NXST opened at $182.02 on Friday. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30. The stock 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. The business’s 50 day moving average price is $193.11 and its 200 day moving average price is $207.52. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.1%. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of research reports. Guggenheim upped their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Barrington Research restated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Buy” and a consensus target price of $259.67.

Key Stories Impacting Nexstar Media Group

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

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NXST. Integrated Wealth Concepts LLC acquired a new position in Nexstar Media Group during the first quarter worth $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Nexstar Media Group by 49.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after acquiring an additional 5,251 shares in the last quarter. Millennium Management LLC raised its stake in shares of Nexstar Media Group by 571.4% in the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after acquiring an additional 61,830 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Nexstar Media Group by 14.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock valued at $23,802,000 after acquiring an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Nexstar Media Group in the first quarter valued at $654,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.