Nexstar Media Group (NASDAQ:NXST) Insider Andrew Alford Sells 368 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 368 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $182.42, for a total transaction of $67,130.56. Following the transaction, the insider owned 12,259 shares in the company, valued at approximately $2,236,286.78. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Alford also recently made the following trade(s):

• On Thursday, May 28th, Andrew Alford sold 605 shares of Nexstar Media Group stock. The stock was sold at an average price of $185.33, for a total transaction of $112,124.65.
• On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $73,991.40.

Nexstar Media Group Stock Up 0.6%

NXST traded up $1.01 during trading on Friday, hitting $182.02. 207,222 shares of the company’s stock were exchanged, compared to its average volume of 333,002. 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 business’s 50 day moving average is $193.11 and its two-hundred day moving average is $207.52. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The stock has a market cap of $5.56 billion, a P/E ratio of 39.06, a PEG ratio of 0.45 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.1%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Analysts Set New Price Targets

Several research firms have weighed in on NXST. Wells Fargo & Company lowered 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. Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Citigroup upgraded 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 report on Friday, April 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $259.67.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently made changes to their positions in NXST. Torren Management LLC purchased a new stake in shares of Nexstar Media Group in the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nexstar Media Group in the third quarter valued at about $28,000. WPG Advisers LLC raised its holdings in shares of Nexstar Media Group by 65.7% in 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 during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Nexstar Media Group by 164.5% in 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 during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Nexstar Media Group in the second quarter valued at about $54,000. Hedge funds and other 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.