Nexstar Media Group (NASDAQ:NXST) CEO Perry Sook Buys 12,235 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry Sook bought 12,235 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were purchased at an average price of $162.26 per share, with a total value of $1,985,251.10. Following the acquisition, the chief executive officer directly owned 899,044 shares in the company, valued at approximately $145,878,879.44. This trade represents a 1.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nexstar Media Group Stock Up 3.2%

NASDAQ:NXST traded up $5.24 during mid-day trading on Monday, hitting $169.24. The company had a trading volume of 383,846 shares, compared to its average volume of 394,530. The business has a fifty day simple moving average of $187.12 and a 200-day simple moving average of $205.51. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 0.41 and a beta of 0.91. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 1 year low of $154.47 and a 1 year high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barrington Research reissued an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Wells Fargo & Company decreased their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Wealth Management LLC purchased a new stake in shares of Nexstar Media Group in the first quarter valued at $1,229,000. NewEdge Advisors LLC boosted its position in Nexstar Media Group by 7,750.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock worth $1,633,000 after acquiring an additional 8,913 shares during the period. Bank of America Corp DE increased its holdings in shares of Nexstar Media Group by 17.0% in the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock valued at $31,332,000 after purchasing an additional 25,193 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of 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 acquired a new stake in shares of Nexstar Media Group during the first quarter worth approximately $154,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.