Insider Selling: Nexstar Media Group (NASDAQ:NXST) EVP Sells $42,164.38 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 239 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $42,164.38. Following the sale, the executive vice president owned 27,901 shares in the company, valued at $4,922,294.42. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Thursday, June 4th, Blake Russell sold 319 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total transaction of $58,191.98.
• On Wednesday, May 27th, Blake Russell sold 185 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $34,654.20.

Nexstar Media Group Stock Performance

Shares of NXST opened at $174.50 on Friday. The firm’s 50 day moving average is $191.14 and its 200-day moving average is $207.13. The stock has a market capitalization of $5.33 billion, a P/E ratio of 37.45, a P/E/G ratio of 0.44 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. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30.

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 paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.3%. Nexstar Media Group’s payout ratio is currently 159.66%.

Institutional Trading of Nexstar Media Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Torren Management LLC acquired a new stake in shares of Nexstar Media Group in the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group in the third quarter worth $28,000. WPG Advisers LLC grew its position in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares in the last quarter. Hantz Financial Services Inc. grew its position in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares in the last quarter. Finally, Danske Bank A S purchased a new position in Nexstar Media Group during the third quarter valued at approximately $59,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

NXST has been the topic of several recent research reports. Benchmark lowered their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Nexstar Media Group 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:

• Neutral Sentiment: Several Nexstar executives, including Blake Russell, Andrew Alford, Sean Compton, Dana Zimmer, and Lee Ann Gliha, sold shares at $176.42. The filings say these were tax-withholding sales tied to equity award vesting, which usually makes them less concerning than discretionary insider selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent coverage noted that NXST has been weakening over the past month and remains below key moving averages, suggesting bearish momentum may be contributing to the stock’s decline. Nexstar Media Group stock down article
• Neutral Sentiment: Nexstar continues to offer a sizable dividend yield, but the payout ratio is elevated, which may limit upside enthusiasm from income investors. Nexstar Media Group stock page

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.