Brett Jenkins Sells 284 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 284 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $50,103.28. Following the transaction, the insider directly owned 28,443 shares of the company’s stock, valued at $5,017,914.06. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 Thursday, June 4th, Brett Jenkins sold 397 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total transaction of $72,420.74.
• On Wednesday, May 27th, Brett Jenkins sold 229 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $42,896.28.

Nexstar Media Group Stock Performance

NXST opened at $174.50 on Friday. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 0.44 and a beta of 0.91. The company has a fifty day moving average of $191.14 and a 200 day moving average of $207.13. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two 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.

Nexstar Media Group Dividend Announcement

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 4.3%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of 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. Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group has an average rating of “Buy” and an average price target of $259.67.

Nexstar Media Group News Roundup

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

• Neutral Sentiment: Several Nexstar executives, including Blake Russell, Andrew Alford, Sean Compton, Dana Zimmer, and Lee Ann Gliha, sold shares at $176.42. The filings say these were tax-withholding sales tied to equity award vesting, which usually makes them less concerning than discretionary insider selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent coverage noted that NXST has been weakening over the past month and remains below key moving averages, suggesting bearish momentum may be contributing to the stock’s decline. Nexstar Media Group stock down article
• Neutral Sentiment: Nexstar continues to offer a sizable dividend yield, but the payout ratio is elevated, which may limit upside enthusiasm from income investors. Nexstar Media Group stock page

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Nexstar Media Group by 19.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock worth $5,507,000 after acquiring an additional 4,616 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Nexstar Media Group by 2,573.4% in the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after acquiring an additional 134,871 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Nexstar Media Group by 5.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 93,334 shares of the company’s stock worth $18,456,000 after acquiring an additional 4,609 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Nexstar Media Group by 157.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after acquiring an additional 228,603 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after acquiring an additional 13,084 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

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.