Nexstar Media Group (NASDAQ:NXST) EVP Sells $15,885.33 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lindsey Knapp sold 93 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $15,885.33. Following the sale, the executive vice president directly owned 1,152 shares of the company’s stock, valued at $196,773.12. This trade represents a 7.47% decrease in their position. The sale was disclosed in a filing 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.

Lindsey Knapp also recently made the following trade(s):

• On Tuesday, June 2nd, Lindsey Knapp sold 290 shares of Nexstar Media Group stock. The shares were sold at an average price of $184.27, for a total value of $53,438.30.
• On Wednesday, May 27th, Lindsey Knapp sold 92 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $17,233.44.

Nexstar Media Group Stock Performance

Shares of NXST opened at $164.16 on Friday. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 0.42 and a beta of 0.91. The business’s fifty day simple moving average is $189.91 and its two-hundred day simple moving average is $206.64. Nexstar Media Group, Inc. has a 12 month low of $163.46 and a 12 month high of $254.30. 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 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 given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.5%. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Institutional Trading of Nexstar Media Group

Several large investors have recently modified their holdings of NXST. Torren Management LLC bought a new position in Nexstar Media Group in the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $28,000. WPG Advisers LLC grew 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 valued at $36,000 after purchasing an additional 71 shares during the period. State of Wyoming purchased a new stake in shares of Nexstar Media Group during the 2nd quarter valued at about $54,000. Finally, Danske Bank A S purchased a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $59,000. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NXST. Deutsche Bank Aktiengesellschaft decreased their target price on 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. Guggenheim raised their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Wells Fargo & Company reduced their price target on shares of 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. Barrington Research reissued an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, April 28th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Buy” and an average 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.