Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells $137,254.76 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 778 shares of Nexstar Media Group stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $137,254.76. Following the completion of the sale, the insider directly owned 14,357 shares of the company’s stock, valued at approximately $2,532,861.94. This trade represents a 5.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Alford also recently made the following trade(s):

• On Thursday, June 4th, Andrew Alford sold 368 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $67,130.56.
• On Thursday, May 28th, Andrew Alford sold 605 shares of Nexstar Media Group stock. The stock was sold at an average price of $185.33, for a total value of $112,124.65.
• On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $73,991.40.

Nexstar Media Group Trading Down 0.0%

Shares of NXST opened at $174.50 on Friday. The business has a 50-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 firm has a market cap of $5.33 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.3%. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NXST shares. Benchmark reduced their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Guggenheim lifted their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Wells Fargo & Company reduced their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $259.67.

Nexstar Media Group News Summary

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 Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Dorsal Capital Management LP bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $74,152,000. QVT Financial LP boosted its position in shares of Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after acquiring an additional 310,562 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after acquiring an additional 294,308 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after acquiring an additional 228,603 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Nexstar Media Group during the 4th quarter valued at about $41,474,000. 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.