Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells $72,420.74 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 397 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $182.42, for a total value of $72,420.74. Following the transaction, the insider owned 27,977 shares in the company, valued at approximately $5,103,564.34. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brett Jenkins also recently made the following trade(s):

• On Wednesday, May 27th, Brett Jenkins sold 229 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $42,896.28.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $182.02 on Monday. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The stock’s 50-day moving average is $193.11 and its two-hundred day moving average is $207.66. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market cap of $5.56 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91.

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 was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.1%. Nexstar Media Group’s payout ratio is presently 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXST. Torren Management LLC bought a new position in Nexstar Media Group during the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the third quarter valued at about $28,000. WPG Advisers LLC increased its stake 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 acquiring an additional 71 shares during the period. Hantz Financial Services Inc. increased its stake 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 acquiring an additional 125 shares during the period. Finally, State of Wyoming bought a new position in Nexstar Media Group during the second quarter valued at about $54,000. 95.30% of the stock is currently owned by institutional investors.

Key Stories Impacting Nexstar Media Group

Here are the key news stories impacting Nexstar Media Group this week:

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Benchmark dropped their price objective on 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. 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. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One equities research 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average 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.