Rachel Morgan Sells 185 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Rachel Morgan sold 185 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $34,654.20. Following the sale, the executive vice president owned 565 shares in the company, valued at $105,835.80. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $185.94 on Friday. The firm has a market capitalization of $5.68 billion, a P/E ratio of 39.90, a PEG ratio of 0.50 and a beta of 0.97. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30. The company’s fifty day moving average is $198.32 and its two-hundred day moving average is $207.93. 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 business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, May 15th. Nexstar Media Group’s payout ratio is presently 159.66%.

Analyst Ratings Changes

NXST has been the topic of several research analyst reports. Guggenheim boosted their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $259.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in shares of Nexstar Media Group during the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in Nexstar Media Group during the 3rd quarter worth approximately $28,000. Root Financial Partners LLC acquired a new stake in Nexstar Media Group during the 3rd quarter worth approximately $31,000. WPG Advisers LLC increased its position in 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 purchasing an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in Nexstar Media Group by 164.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after purchasing an additional 125 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Nexstar Media Group

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

• Positive Sentiment: NXST was highlighted in a Zacks piece on PEG-driven value stocks, which can support the bull case by keeping the name on investors’ radar as a relatively undervalued growth stock. Article title
• Neutral Sentiment: Several Nexstar executives and insiders sold shares at $187.32, but the filings say the transactions were made to cover tax withholding tied to equity award vesting, which usually limits the bearish signal. SEC filing reference
• Neutral Sentiment: Reported short interest was shown as zero shares, so there is no meaningful short-selling data in this update to explain the stock’s move. Article reference
• Negative Sentiment: The cluster of insider sales from multiple executives, including the COO and several EVPs, may weigh on sentiment in the near term even though the sales were non-discretionary. MarketBeat insider trades 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.