Nexstar Media Group (NASDAQ:NXST) EVP Sells $132,667.84 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 752 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $132,667.84. Following the completion of the sale, the executive vice president directly owned 19,510 shares in the company, valued at $3,441,954.20. This represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Thursday, June 4th, Lee Ann Gliha sold 258 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $47,064.36.
• 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%

Shares of NXST traded up $1.11 during mid-day trading on Thursday, reaching $174.52. The company’s stock had a trading volume of 342,542 shares, compared to its average volume of 381,985. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30. The stock has a market cap of $5.33 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The company’s 50 day moving average is $191.36 and its 200 day moving average is $207.47.

Nexstar Media Group Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 4.3%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Wall Street Analyst Weigh In

NXST has been the topic of a number of recent analyst reports. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $252.00 to $220.00 in a report on Friday, April 10th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft dropped 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. Guggenheim raised 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $259.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CWA Asset Management Group LLC grew its stake in shares of Nexstar Media Group by 1.7% in the 4th quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock valued at $630,000 after purchasing an additional 51 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of Nexstar Media Group by 1.6% in the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after purchasing an additional 56 shares during the last quarter. Truist Financial Corp grew its stake in shares of Nexstar Media Group by 5.2% in the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock valued at $231,000 after purchasing an additional 56 shares during the last quarter. WPG Advisers LLC lifted its holdings in shares of Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Nexstar Media Group by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after buying an additional 80 shares during the period. 95.30% of the stock is currently 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.