Nexstar Media Group (NASDAQ:NXST) Insider Sells $83,357.40 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Sean Compton sold 445 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $83,357.40. Following the completion of the transaction, the insider directly owned 11,807 shares of the company’s stock, valued at $2,211,687.24. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Compton also recently made the following trade(s):

• On Tuesday, May 19th, Sean Compton sold 5,000 shares of Nexstar Media Group stock. The shares were sold at an average price of $196.00, for a total value of $980,000.00.

Nexstar Media Group Stock Down 1.5%

Shares of NXST traded down $2.91 during trading hours on Wednesday, hitting $185.12. The company had a trading volume of 324,271 shares, compared to its average volume of 384,860. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market capitalization of $5.65 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 0.48 and a beta of 0.97. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30. The company’s fifty day moving average price is $200.38 and its two-hundred day moving average price is $207.99.

Nexstar Media Group Dividend Announcement

The company 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. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, May 15th. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NXST shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Guggenheim upped their price objective 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. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Barrington Research reissued an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. One investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently modified their holdings of NXST. Torren Management LLC acquired a new position in Nexstar Media Group during the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in Nexstar Media Group in the 3rd quarter valued at about $28,000. Root Financial Partners LLC purchased a new position in Nexstar Media Group in the 3rd quarter worth approximately $31,000. WPG Advisers LLC lifted its stake in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Nexstar Media Group by 164.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after purchasing an additional 125 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

More Nexstar Media Group News

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

• Neutral Sentiment: Multiple Nexstar insiders sold shares at $187.32, but the filings say the transactions were to satisfy tax withholding obligations related to equity vesting. SEC filing for Michael Biard
• Neutral Sentiment: Additional insider sales were disclosed by Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Brett Jenkins, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, adding to the near-term overhang on sentiment. SEC filing for Lee Ann Gliha
• Negative Sentiment: The cluster of insider sales may cause investors to question whether management sees limited near-term upside, even though the trades appear to be routine and not necessarily a negative fundamental signal. SEC filing for Gary Weitman

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.