Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells 875 Shares of Stock

by · The Markets Daily

Nexstar Media Group, Inc. (NASDAQ:NXST – Get Free Report) insider Sean Compton sold 875 shares of Nexstar Media Group stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $154,367.50. Following the sale, the insider directly owned 14,332 shares of the company’s stock, valued at approximately $2,528,451.44. This represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Compton also recently made the following trade(s):

  • On Thursday, June 4th, Sean Compton sold 414 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $75,521.88.
  • On Wednesday, May 27th, Sean Compton sold 445 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $83,357.40.
  • On Tuesday, May 19th, Sean Compton sold 5,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $196.00, for a total value of $980,000.00.

Nexstar Media Group Stock Performance

NXST traded up $1.11 on Thursday, reaching $174.52. 342,542 shares of the stock were exchanged, compared to its average volume of 381,985. The company’s 50-day moving average price is $191.36 and its 200 day moving average price is $207.47. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market capitalization of $5.33 billion, a PE ratio of 37.45, a PEG ratio of 0.45 and a beta of 0.91.

Nexstar Media Group Dividend Announcement

The company also recently declared 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 of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.3%. Nexstar Media Group’s payout ratio is currently 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors have recently modified their holdings of the stock. Torren Management LLC purchased a new position in shares of Nexstar Media Group in the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter valued at about $28,000. WPG Advisers LLC increased its stake in shares of Nexstar Media Group by 65.7% in 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 in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares in the last quarter. Finally, Danske Bank A S purchased a new position in shares of Nexstar Media Group in the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NXST shares. Guggenheim lifted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Barrington Research reiterated an “outperform” rating and set a $290.00 price objective 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 given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nexstar Media Group currently has an average rating of “Buy” and a consensus price target of $259.67.

Check Out Our Latest Stock Report on NXST

Nexstar Media Group Company Profile

(Get Free Report)

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.

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