Lee Ann Gliha Sells 258 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 258 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $182.42, for a total value of $47,064.36. Following the sale, the executive vice president owned 18,387 shares of the company’s stock, valued at approximately $3,354,156.54. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Ann Gliha also recently made the following trade(s):

• On Wednesday, May 27th, Lee Ann Gliha sold 742 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $138,991.44.

Nexstar Media Group Stock Up 0.6%

Nexstar Media Group stock opened at $182.02 on Friday. The stock has a market cap of $5.56 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91. 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, Inc. has a one year low of $164.00 and a one year high of $254.30. The stock has a fifty day moving average of $193.11 and a 200 day moving average of $207.52.

Nexstar Media Group Announces Dividend

The company 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 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is 159.66%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NXST. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Barrington Research reiterated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Wells Fargo & Company lowered their target price on 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 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’s stock. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of “Buy” and an average target price of $259.67.

Trending Headlines about 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

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Nexstar Media Group by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock valued at $284,738,000 after purchasing an additional 10,949 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Nexstar Media Group by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after purchasing an additional 23,360 shares in the last quarter. Alliancebernstein L.P. lifted its position in Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares in the last quarter. Geode Capital Management LLC lifted its position in Nexstar Media Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after purchasing an additional 13,084 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Nexstar Media Group by 1.8% during the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock valued at $116,427,000 after purchasing an additional 11,477 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.