Nexstar Media Group (NASDAQ:NXST) Director Charles Thomas Mcmillen Sells 1,000 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total value of $180,000.00. Following the transaction, the director owned 5,658 shares of the company’s stock, valued at $1,018,440. This trade represents a 15.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Nexstar Media Group Trading Up 1.1%

Shares of NXST stock opened at $179.57 on Wednesday. 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 1 year low of $164.00 and a 1 year high of $254.30. The stock has a fifty day moving average of $191.60 and a two-hundred day moving average of $207.55. The firm has a market capitalization of $5.48 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders 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 annualized dividend and a dividend yield of 4.1%. Nexstar Media Group’s dividend payout ratio is 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its holdings in shares of Nexstar Media Group by 19.9% during the third quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock valued at $5,507,000 after purchasing an additional 4,616 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Nexstar Media Group by 2,272.2% during the third quarter. Alps Advisors Inc. now owns 49,460 shares of the company’s stock valued at $9,780,000 after purchasing an additional 47,375 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Nexstar Media Group by 2,573.4% during the fourth quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock valued at $28,494,000 after purchasing an additional 134,871 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Nexstar Media Group by 5.2% during the third quarter. Envestnet Asset Management Inc. now owns 93,334 shares of the company’s stock valued at $18,456,000 after purchasing an additional 4,609 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Nexstar Media Group by 157.2% during the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NXST. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Benchmark cut their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Barrington Research restated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Finally, Wells Fargo & Company cut their price objective on 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 investment 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. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average 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.