Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells 395 Shares of Stock

Key Points

• Insider selling: Nexstar Media Group insider Andrew Alford sold 395 shares at an average price of $187.32, worth about $73,991. The filing says the sale was to cover tax withholding tied to vested equity awards.
• Stock performance and valuation: NXST fell 1.5% to $185.12 on Wednesday, below its 50-day and 200-day moving averages. The company has a market cap of $5.65 billion and a 4.0% dividend yield.
• Broader insider and analyst activity: Several Nexstar insiders have recently disclosed share sales, which may pressure sentiment, though the transactions appear routine. Analysts remain mostly positive overall, with a consensus rating of Buy and an average target price of $259.67.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Andrew Alford sold 395 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total transaction of $73,991.40. Following the sale, the insider directly owned 12,294 shares of the company's stock, valued at $2,302,912.08. The trade was a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Stock Down 1.5%

NASDAQ NXST traded down $2.91 on Wednesday, hitting $185.12. The stock had a trading volume of 324,271 shares, compared to its average volume of 384,860. The business's fifty day moving average price is $200.38 and its 200 day moving average price is $207.99. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 0.48 and a beta of 0.97. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, May 15th. Nexstar Media Group's payout ratio is 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently bought and sold shares of the stock. Torren Management LLC acquired a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at $28,000. Root Financial Partners LLC purchased a new stake in Nexstar Media Group during the third quarter worth $31,000. WPG Advisers LLC grew its position 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 buying an additional 71 shares during the period. Finally, Hantz Financial Services Inc. grew its position 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 buying an additional 125 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Key Headlines Impacting Nexstar Media Group

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

• Neutral Sentiment: Multiple Nexstar insiders sold shares at $187.32, but the filings say the transactions were to satisfy tax withholding obligations related to equity vesting. SEC filing for Michael Biard
• Neutral Sentiment: Additional insider sales were disclosed by Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Brett Jenkins, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, adding to the near-term overhang on sentiment. SEC filing for Lee Ann Gliha
• Negative Sentiment: The cluster of insider sales may cause investors to question whether management sees limited near-term upside, even though the trades appear to be routine and not necessarily a negative fundamental signal. SEC filing for Gary Weitman

Analyst Ratings Changes

A number of equities research analysts have commented on NXST shares. Wells Fargo & Company decreased their price target on 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating on the stock in a report on Monday, May 11th. Zacks Research raised shares of Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Benchmark cut their target price on Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Finally, Wall Street Zen upgraded 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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.

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