Nexstar Media Group (NASDAQ:NXST) Insider Andrew Alford Sells 605 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 605 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $185.33, for a total value of $112,124.65. Following the sale, the insider owned 11,689 shares of the company’s stock, valued at $2,166,322.37. The trade was a 4.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Andrew Alford also recently made the following trade(s):

• On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $73,991.40.

Nexstar Media Group Trading Up 3.3%

Shares of NASDAQ NXST opened at $184.40 on Tuesday. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30. The firm has a market capitalization of $5.63 billion, a PE ratio of 39.57, a PEG ratio of 0.45 and a beta of 0.97. 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 business has a 50-day moving average price of $196.53 and a two-hundred day moving average price of $207.77.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Institutional Trading of Nexstar Media Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXST. Principal Financial Group Inc. grew its holdings in shares of Nexstar Media Group by 63.0% during the 3rd quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock worth $96,557,000 after purchasing an additional 188,695 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Nexstar Media Group by 43.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 279,336 shares of the company’s stock worth $55,236,000 after purchasing an additional 84,163 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Nexstar Media Group by 19.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock worth $5,507,000 after purchasing an additional 4,616 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Nexstar Media Group by 2,272.2% during the 3rd quarter. Alps Advisors Inc. now owns 49,460 shares of the company’s stock worth $9,780,000 after purchasing an additional 47,375 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Nexstar Media Group by 2,573.4% during the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after purchasing an additional 134,871 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NXST shares. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Guggenheim raised 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. One 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $259.67.

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.