Dana Zimmer Sells 433 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 433 shares of Nexstar Media Group stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $182.42, for a total transaction of $78,987.86. Following the completion of the transaction, the insider directly owned 3,777 shares in the company, valued at approximately $689,000.34. The trade was a 10.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $87,103.80.

Nexstar Media Group Stock Up 0.6%

Shares of NASDAQ NXST opened at $182.02 on Friday. 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, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30. The firm’s fifty day moving average is $193.11 and its 200 day moving average is $207.52. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.46 and a beta of 0.91.

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 paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s payout ratio is presently 159.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NXST shares. Guggenheim boosted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. 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 reduced their price objective on shares of 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. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $259.67.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently modified their holdings of NXST. Torren Management LLC bought a new stake in shares of Nexstar Media Group during the 4th quarter valued at $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $28,000. WPG Advisers LLC boosted its holdings in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares in the last quarter. Hantz Financial Services Inc. boosted its stake 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, State of Wyoming bought a new position in Nexstar Media Group in the 2nd quarter worth about $54,000. Institutional investors own 95.30% of the company’s stock.

Key Nexstar Media Group News

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

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

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.