Nexstar Media Group (NASDAQ:NXST) Insider Sells $51,413.81 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 301 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $51,413.81. Following the completion of the transaction, the insider owned 28,798 shares in the company, valued at approximately $4,918,986.38. The trade was a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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, June 10th, Brett Jenkins sold 284 shares of Nexstar Media Group stock. The shares were sold at an average price of $176.42, for a total value of $50,103.28.
• On Thursday, June 4th, Brett Jenkins sold 397 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $72,420.74.
• On Wednesday, May 27th, Brett Jenkins sold 229 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $42,896.28.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $164.16 on Friday. The company has a fifty day simple moving average of $189.91 and a 200 day simple moving average of $206.64. Nexstar Media Group, Inc. has a 12-month low of $163.46 and a 12-month high of $254.30. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market cap of $5.01 billion, a P/E ratio of 35.23, a PEG ratio of 0.42 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 paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds have recently made changes to their positions in the business. Dorsal Capital Management LP bought a new position in Nexstar Media Group during the third quarter valued at about $74,152,000. QVT Financial LP boosted its stake in Nexstar Media Group by 200.0% in the fourth quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after acquiring an additional 310,562 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after acquiring an additional 294,308 shares during the period. JPMorgan Chase & Co. grew its position in shares of Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after acquiring an additional 228,603 shares during the period. Finally, Norges Bank purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $41,474,000. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NXST. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Barrington Research reissued an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, April 28th. Guggenheim increased their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, 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 report on Friday, May 8th. 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. According to MarketBeat, 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.