Nexstar Media Group (NASDAQ:NXST) EVP Blake Russell Sells 319 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 319 shares of Nexstar Media Group stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $182.42, for a total value of $58,191.98. Following the completion of the transaction, the executive vice president owned 27,390 shares of the company’s stock, valued at $4,996,483.80. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Blake Russell also recently made the following trade(s):

• On Wednesday, May 27th, Blake Russell sold 185 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $34,654.20.

Nexstar Media Group Stock Up 0.6%

NASDAQ:NXST opened at $182.02 on Friday. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30. The stock has a 50-day simple moving average of $193.11 and a 200 day simple moving average of $207.52. 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 declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Nexstar Media Group News Roundup

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

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research reports. Guggenheim lifted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their target price for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Benchmark decreased their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. One equities research 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.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Nexstar Media Group by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock valued at $284,738,000 after acquiring an additional 10,949 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Nexstar Media Group by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after acquiring an additional 23,360 shares during the period. Alliancebernstein L.P. boosted its position in shares of Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after buying an additional 187,864 shares during the period. Geode Capital Management LLC boosted its position in shares of Nexstar Media Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after buying an additional 13,084 shares during the period. Finally, Janus Henderson Group PLC boosted its position 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 buying an additional 11,477 shares during the period. 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.