Nexstar Media Group (NASDAQ:NXST) EVP Sells $34,654.20 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Rachel Morgan sold 185 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total transaction of $34,654.20. Following the sale, the executive vice president directly owned 565 shares in the company, valued at approximately $105,835.80. The trade was a 24.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $178.43 on Friday. The firm’s 50-day moving average price is $197.31 and its 200-day moving average price is $207.72. 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 company has a market cap of $5.45 billion, a PE ratio of 38.29, a PEG ratio of 0.47 and a beta of 0.97. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30.

Nexstar Media Group Announces Dividend

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

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in Nexstar Media Group during the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new position in Nexstar Media Group during the third quarter valued at approximately $28,000. Root Financial Partners LLC purchased a new position in Nexstar Media Group during the third quarter valued at approximately $31,000. WPG Advisers LLC lifted its holdings 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. Finally, Hantz Financial Services Inc. lifted its holdings 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. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

NXST has been the topic of a number of research reports. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Benchmark dropped 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 report on Monday, April 6th. Finally, Guggenheim raised their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target 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.