Nexstar Media Group (NASDAQ:NXST) EVP Blake Russell Sells 239 Shares

Key Points

• Nexstar Media Group EVP Blake Russell sold 239 shares on June 10 at an average price of $176.42, worth about $42,164. The filing says the sale was to cover tax withholding tied to vesting equity awards.
• Russell has been active in selling shares recently, with additional sales on June 4 and May 27 at higher prices than the latest transaction. Other insiders, including Director Charles Thomas McMillen, also sold shares for tax-withholding reasons.
• NXST shares rose 0.6% to $174.52 in Thursday trading, but the stock remains below its 50-day and 200-day moving averages. The company also pays a quarterly dividend yielding about 4.3%, though its payout ratio is elevated.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) EVP Blake Russell sold 239 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $42,164.38. Following the completion of the sale, the executive vice president directly owned 27,901 shares in the company, valued at approximately $4,922,294.42. The trade was a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Blake Russell also recently made the following trade(s):

• On Thursday, June 4th, Blake Russell sold 319 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $58,191.98.
• On Wednesday, May 27th, Blake Russell sold 185 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $34,654.20.

Nexstar Media Group Stock Up 0.6%

Shares of NASDAQ:NXST traded up $1.11 during trading on Thursday, hitting $174.52. The company's stock had a trading volume of 342,542 shares, compared to its average volume of 381,985. The business has a 50 day moving average price of $191.36 and a two-hundred day moving average price of $207.47. The company has a market capitalization of $5.33 billion, a PE ratio of 37.45, a P/E/G ratio of 0.45 and a beta of 0.91. 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, 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.3%. Nexstar Media Group's payout ratio is 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Nexstar Media Group by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company's stock valued at $284,738,000 after buying an additional 10,949 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Nexstar Media Group by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company's stock valued at $239,950,000 after buying an additional 23,360 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Nexstar Media Group by 27.1% in the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company's stock valued at $152,598,000 after buying an additional 187,864 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Nexstar Media Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company's stock valued at $157,114,000 after buying an additional 13,084 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Nexstar Media Group by 1.8% in the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company's stock valued at $116,427,000 after buying an additional 11,477 shares during the last quarter. Institutional investors and hedge funds 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: 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

Analysts Set New Price Targets

NXST has been the subject of several research 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 research note on Friday, February 27th. Weiss Ratings restated a "hold (c)" rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Zacks Research upgraded shares of Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Wells Fargo & Company lowered their target price on shares of 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. Finally, Benchmark lowered their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $259.67.

About Nexstar Media Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.