Nexstar Media Group (NASDAQ:NXST) Insider Sells $46,539.69 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dan Lanzano sold 237 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $196.37, for a total value of $46,539.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nexstar Media Group Stock Down 0.8%

Shares of NASDAQ:NXST traded down $1.57 during trading on Tuesday, hitting $194.98. 48,528 shares of the company were exchanged, compared to its average volume of 387,095. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 41.84, a P/E/G ratio of 0.59 and a beta of 0.97. 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 fifty day moving average price of $206.87 and a two-hundred day moving average price of $208.25. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.8%. Nexstar Media Group’s payout ratio is 159.66%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of Nexstar Media Group by 17.0% during the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after acquiring an additional 25,193 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after acquiring an additional 11,477 shares during the last quarter. Strategic Investment Advisors MI acquired a new position in shares of Nexstar Media Group during the 1st quarter worth approximately $154,000. Amundi increased its holdings in shares of Nexstar Media Group by 120.0% during the 1st quarter. Amundi now owns 5,130 shares of the company’s stock worth $928,000 after acquiring an additional 2,798 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Nexstar Media Group by 15.3% in the 1st quarter. California State Teachers Retirement System now owns 33,605 shares of the company’s stock valued at $6,077,000 after purchasing an additional 4,456 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on NXST shares. Guggenheim boosted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $252.00 to $220.00 in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus 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.