Nexstar Media Group (NASDAQ:NXST) Insider Dan Lanzano Sells 247 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dan Lanzano sold 247 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $46,268.04. Following the completion of the sale, the insider owned 431 shares in the company, valued at $80,734.92. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dan Lanzano also recently made the following trade(s):

• On Monday, May 18th, Dan Lanzano sold 237 shares of Nexstar Media Group stock. The stock was sold at an average price of $196.37, for a total transaction of $46,539.69.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $185.12 on Thursday. The company’s fifty day moving average price is $199.35 and its 200-day moving average price is $207.96. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 0.51 and a beta of 0.97. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Key Stories Impacting Nexstar Media Group

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

• Neutral Sentiment: Multiple Nexstar insiders sold shares at $187.32, but the filings say the transactions were to satisfy tax withholding obligations related to equity vesting. SEC filing for Michael Biard
• Neutral Sentiment: Additional insider sales were disclosed by Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Brett Jenkins, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, adding to the near-term overhang on sentiment. SEC filing for Lee Ann Gliha
• Negative Sentiment: The cluster of insider sales may cause investors to question whether management sees limited near-term upside, even though the trades appear to be routine and not necessarily a negative fundamental signal. SEC filing for Gary Weitman

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently made changes to their positions in NXST. Integrated Wealth Concepts LLC bought a new position in shares of Nexstar Media Group during the 1st quarter valued at $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Nexstar Media Group by 49.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after purchasing an additional 5,251 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Nexstar Media Group by 571.4% during the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after purchasing an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Nexstar Media Group by 14.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock valued at $23,802,000 after purchasing an additional 16,637 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Nexstar Media Group during the 1st quarter valued at $654,000. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NXST. Guggenheim increased their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Barrington Research reissued an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $259.67.

Nexstar Media Group Company Profile

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.