Nexstar Media Group (NASDAQ:NXST) Insider Sells $143,480.40 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Sean Compton sold 840 shares of the business’s 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 $143,480.40. Following the completion of the transaction, the insider owned 14,430 shares in the company, valued at $2,464,788.30. The trade was a 5.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Compton also recently made the following trade(s):

• On Wednesday, June 10th, Sean Compton sold 875 shares of Nexstar Media Group stock. The shares were sold at an average price of $176.42, for a total value of $154,367.50.
• On Thursday, June 4th, Sean Compton sold 414 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $75,521.88.
• On Wednesday, May 27th, Sean Compton sold 445 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $83,357.40.
• On Tuesday, May 19th, Sean Compton sold 5,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $196.00, for a total value of $980,000.00.

Nexstar Media Group Stock Down 1.0%

Shares of NASDAQ:NXST opened at $164.16 on Friday. The company has a market capitalization of $5.01 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 0.42 and a beta of 0.91. 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 business has a fifty day moving average price of $189.91 and a two-hundred day moving average price of $206.64. Nexstar Media Group, Inc. has a 1 year low of $163.46 and a 1 year high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued 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 payout ratio is 159.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NXST. Benchmark decreased their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Wells Fargo & Company decreased their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC bought a new stake in Nexstar Media Group in the 1st quarter valued at about $1,229,000. NewEdge Advisors LLC lifted its holdings in Nexstar Media Group by 7,750.4% during the first 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. Bank of America Corp DE boosted its position in Nexstar Media Group by 17.0% during the first quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after purchasing an additional 25,193 shares during the period. Janus Henderson Group PLC boosted its position in Nexstar Media Group by 1.8% during the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after purchasing an additional 11,477 shares during the period. Finally, Strategic Investment Advisors MI purchased a new position in shares of Nexstar Media Group in the first quarter worth about $154,000. 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.