Gary Weitman Sells 194 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 194 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $174.21, for a total transaction of $33,796.74. Following the completion of the sale, the insider directly owned 6,568 shares of the company’s stock, valued at approximately $1,144,211.28. This trade represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gary Weitman also recently made the following trade(s):

• On Thursday, June 4th, Gary Weitman sold 319 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total transaction of $58,191.98.
• On Wednesday, May 27th, Gary Weitman sold 184 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $34,466.88.

Nexstar Media Group Trading Up 1.3%

Nexstar Media Group stock traded up $2.20 during trading hours on Monday, hitting $176.70. The company had a trading volume of 61,375 shares, compared to its average volume of 378,550. The firm has a market cap of $5.40 billion, a P/E ratio of 37.92, a P/E/G ratio of 0.44 and a beta of 0.91. 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, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30. The company has a 50-day moving average price of $191.14 and a two-hundred day moving average price of $207.28.

Nexstar Media Group Dividend Announcement

The business 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 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s payout ratio is 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Nexstar Media Group by 0.8% during 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 last quarter. Charles Schwab Investment Management Inc. increased its stake in Nexstar Media Group by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after purchasing an additional 23,360 shares in the last quarter. Alliancebernstein L.P. increased its stake in Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares in the last quarter. Geode Capital Management LLC increased its stake in Nexstar Media Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after purchasing an additional 13,084 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock valued at $116,427,000 after purchasing an additional 11,477 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Zacks Research raised shares of 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 objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Benchmark lowered their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $259.67.

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.