Nexstar Media Group (NASDAQ:NXST) Insider Dana Zimmer Sells 915 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 915 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $161,424.30. Following the completion of the transaction, the insider directly owned 5,738 shares in the company, valued at $1,012,297.96. This trade represents a 13.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dana Zimmer also recently made the following trade(s):

• On Thursday, June 4th, Dana Zimmer sold 433 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total transaction of $78,987.86.
• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $87,103.80.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $174.52 on Friday. The company’s 50-day moving average is $191.24 and its 200 day moving average is $207.36. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $5.33 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.3%. 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

Institutional investors have recently added to or reduced their stakes in the business. Torren Management LLC purchased a new stake in Nexstar Media Group during the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group during the third quarter valued at about $28,000. WPG Advisers LLC lifted its holdings in Nexstar Media Group by 65.7% during the fourth 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 last quarter. Hantz Financial Services Inc. lifted its holdings in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Nexstar Media Group during the second quarter valued at about $54,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of research analyst reports. Guggenheim boosted their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Barrington Research reissued an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Finally, Benchmark dropped 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 report on Monday, April 6th. One 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.com, Nexstar Media Group has a consensus rating of “Buy” and a consensus target price of $259.67.

Nexstar Media Group News Summary

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

• Neutral Sentiment: Director Charles Thomas McMillen sold 1,000 shares, and the filing says the transaction was for tax withholding related to equity award vesting. Nexstar Media Group insider filing
• Neutral Sentiment: Multiple other insiders also sold shares at the same $176.42 price level, including Andrew Alford, Sean Compton, Dana Zimmer, Lee Ann Gliha, and Blake Russell, all citing tax-withholding obligations. Nexstar Media Group insider filing
• Neutral Sentiment: Recent reporting also highlighted that NXST has fallen over the past month and remains below key moving averages, signaling continued technical weakness. Nexstar Media Group stock down article
• Neutral Sentiment: The company’s dividend yield remains attractive, but the payout ratio is elevated, which may limit enthusiasm among income-focused investors. Nexstar Media Group stock page

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.