Insider Selling: Nexstar Media Group (NASDAQ:NXST) EVP Sells $17,233.44 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lindsey Knapp sold 92 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total value of $17,233.44. Following the transaction, the executive vice president directly owned 1,160 shares in the company, valued at approximately $217,291.20. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Trading Down 4.0%

Shares of NASDAQ:NXST opened at $178.43 on Friday. The company has a market cap of $5.45 billion, a P/E ratio of 38.29, a PEG ratio of 0.47 and a beta of 0.97. 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 1 year low of $164.00 and a 1 year high of $254.30. The stock’s fifty day moving average price is $197.31 and its 200-day moving average price is $207.72.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NXST shares. Wells Fargo & Company lowered their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Guggenheim increased their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. One investment 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 currently has an average rating of “Buy” and a consensus target price of $259.67.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC increased its position in Nexstar Media Group by 1.7% in the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock worth $630,000 after buying an additional 51 shares in the last quarter. Merit Financial Group LLC increased its position in Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after buying an additional 56 shares in the last quarter. Truist Financial Corp increased its position in Nexstar Media Group by 5.2% in the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after buying an additional 56 shares in the last quarter. WPG Advisers LLC increased its position in Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Nexstar Media Group by 15.7% in the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after buying an additional 80 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

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.