Nexstar Media Group (NASDAQ:NXST) Director Sells $180,000.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total value of $180,000.00. Following the completion of the sale, the director owned 5,658 shares of the company’s stock, valued at $1,018,440. The trade was a 15.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Nexstar Media Group Trading Up 0.6%

Shares of NXST stock opened at $174.52 on Friday. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market capitalization of $5.33 billion, a PE ratio of 37.45, a PEG ratio of 0.44 and a beta of 0.91. The stock has a fifty day simple moving average of $191.24 and a two-hundred day simple moving average of $207.36.

Nexstar Media Group Dividend Announcement

The firm also recently declared 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 yield of 4.3%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of Nexstar Media Group by 7,750.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock valued at $1,633,000 after purchasing an additional 8,913 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Nexstar Media Group during the 1st quarter valued at about $1,229,000. Bank of America Corp DE boosted its holdings in shares of Nexstar Media Group by 17.0% during the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock valued at $31,332,000 after purchasing an additional 25,193 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock valued at $116,427,000 after purchasing an additional 11,477 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new position in shares of Nexstar Media Group during the 1st quarter valued at about $154,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of a number of analyst reports. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Guggenheim increased their price target 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. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Finally, Barrington Research reiterated an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $259.67.

Trending Headlines about Nexstar Media Group

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

• Neutral Sentiment: Director Charles Thomas McMillen sold 1,000 shares, and the filing says the transaction was for tax withholding related to equity award vesting. Nexstar Media Group insider filing
• Neutral Sentiment: Multiple other insiders also sold shares at the same $176.42 price level, including Andrew Alford, Sean Compton, Dana Zimmer, Lee Ann Gliha, and Blake Russell, all citing tax-withholding obligations. Nexstar Media Group insider filing
• Neutral Sentiment: Recent reporting also highlighted that NXST has fallen over the past month and remains below key moving averages, signaling continued technical weakness. Nexstar Media Group stock down article
• Neutral Sentiment: The company’s dividend yield remains attractive, but the payout ratio is elevated, which may limit enthusiasm among income-focused investors. Nexstar Media Group stock page

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.