Lee Ann Gliha Sells 752 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 752 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $132,667.84. Following the transaction, the executive vice president owned 19,510 shares in the company, valued at $3,441,954.20. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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.

Lee Ann Gliha also recently made the following trade(s):

• On Thursday, June 4th, Lee Ann Gliha sold 258 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $47,064.36.
• On Wednesday, May 27th, Lee Ann Gliha sold 742 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $138,991.44.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $174.50 on Friday. The business’s 50-day moving average price is $191.14 and its 200 day moving average price is $207.13. Nexstar Media Group, Inc. has a twelve month low of $164.00 and a twelve month high of $254.30. The company has a market capitalization of $5.33 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 0.44 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.3%. Nexstar Media Group’s dividend payout ratio is 159.66%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NXST. Barrington Research reiterated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Guggenheim increased their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company dropped their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One investment 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 stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $259.67.

Key Stories Impacting Nexstar Media Group

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXST. Integrated Wealth Concepts LLC acquired a new stake in Nexstar Media Group during the first quarter worth about $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nexstar Media Group by 49.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock worth $2,844,000 after acquiring an additional 5,251 shares during the last quarter. Millennium Management LLC increased its stake in Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after acquiring an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after acquiring an additional 16,637 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Nexstar Media Group during the first quarter worth about $654,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.