Dana Zimmer Sells 915 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 915 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $161,424.30. Following the sale, the insider owned 5,738 shares in the company, valued at $1,012,297.96. The trade was a 13.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dana Zimmer also recently made the following trade(s):

• On Thursday, June 4th, Dana Zimmer sold 433 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $78,987.86.
• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $87,103.80.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $174.50 on Friday. The business’s 50 day moving average price is $191.14 and its 200 day moving average price is $207.13. The firm has a market cap of $5.33 billion, a P/E ratio of 37.45, a P/E/G ratio of 0.44 and a beta of 0.91. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.3%. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

More Nexstar Media Group News

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

• Neutral Sentiment: Several Nexstar executives, including Blake Russell, Andrew Alford, Sean Compton, Dana Zimmer, and Lee Ann Gliha, sold shares at $176.42. The filings say these were tax-withholding sales tied to equity award vesting, which usually makes them less concerning than discretionary insider selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent coverage noted that NXST has been weakening over the past month and remains below key moving averages, suggesting bearish momentum may be contributing to the stock’s decline. Nexstar Media Group stock down article
• Neutral Sentiment: Nexstar continues to offer a sizable dividend yield, but the payout ratio is elevated, which may limit upside enthusiasm from income investors. Nexstar Media Group stock page

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently bought and sold shares of the stock. Torren Management LLC purchased a new stake in Nexstar Media Group in the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group in the 3rd quarter worth approximately $28,000. WPG Advisers LLC boosted its position in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after purchasing an additional 125 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in Nexstar Media Group in the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NXST. Wells Fargo & Company dropped their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Benchmark dropped their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price 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.