Nexstar Media Group (NASDAQ:NXST) Sets New 12-Month Low – What’s Next?

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) hit a new 52-week low on Tuesday . The stock traded as low as $158.94 and last traded at $164.01, with a volume of 376372 shares trading hands. The stock had previously closed at $164.16.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NXST shares. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Benchmark lowered their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Wells Fargo & Company cut their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Barrington Research restated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $259.67.

Nexstar Media Group Price Performance

The company has a market cap of $5.01 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 0.41 and a beta of 0.91. The company has a 50-day simple moving average of $189.23 and a 200-day simple moving average of $206.30. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Andrew Alford sold 778 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $137,254.76. Following the sale, the insider directly owned 14,357 shares in the company, valued at approximately $2,532,861.94. The trade was a 5.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 915 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $161,424.30. Following the transaction, the insider directly owned 5,738 shares in the company, valued at approximately $1,012,297.96. This trade represents a 13.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock valued at $4,174,731 in the last three months. Insiders own 7.00% of the company’s stock.

Institutional Trading of Nexstar Media Group

Institutional investors have recently added to or reduced their stakes in the stock. 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 shares of Nexstar Media Group during the 3rd quarter valued at approximately $28,000. WPG Advisers LLC boosted its stake in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares in the last quarter. State of Wyoming purchased a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $54,000. Finally, Danske Bank A S purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.