Nexstar Media Group (NASDAQ:NXST) Insider Sells $46,539.69 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dan Lanzano sold 237 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $196.37, for a total value of $46,539.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Nexstar Media Group Price Performance

Shares of NXST opened at $189.42 on Friday. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30. The business’s fifty day moving average is $203.43 and its 200 day moving average is $208.16. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a market cap of $5.78 billion, a P/E ratio of 40.65, a P/E/G ratio of 0.48 and a beta of 0.97.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

Several large investors have recently made changes to their positions in the business. Western Wealth Management LLC purchased a new stake in shares of Nexstar Media Group during the 1st quarter valued at $1,229,000. Bank of America Corp DE increased its position in shares of Nexstar Media Group by 17.0% during the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock valued at $31,332,000 after purchasing an additional 25,193 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Nexstar Media Group by 1.8% during the 1st 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 during the last quarter. Strategic Investment Advisors MI purchased a new stake in shares of Nexstar Media Group during the 1st quarter valued at $154,000. Finally, Amundi increased its position in shares of Nexstar Media Group by 120.0% during the 1st quarter. Amundi now owns 5,130 shares of the company’s stock valued at $928,000 after purchasing an additional 2,798 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NXST shares. Barrington Research reiterated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Benchmark cut their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Guggenheim raised their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company dropped their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $259.67.

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.