Nexstar Media Group (NASDAQ:NXST) Insider Sells $75,521.88 in Stock

Key Points

• Insider sale: Nexstar Media Group insider Sean Compton sold 414 shares on June 4 for about $75,522 at an average price of $182.42. The filing says the sale was made to cover tax withholding obligations tied to vesting equity awards.
• Recent insider activity: Compton has also sold additional Nexstar shares recently, including 445 shares on May 27 and 5,000 shares on May 19. These transactions came at higher average prices than the latest sale.
• Stock and market backdrop: Nexstar shares rose 0.6% to $182.02 in Friday trading, while the company continues to pay a quarterly dividend of $1.86 per share, equal to a 4.1% annualized yield. Analysts currently rate the stock a consensus Buy with an average price target of $259.67.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Sean Compton sold 414 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $182.42, for a total value of $75,521.88. Following the completion of the sale, the insider owned 12,331 shares in the company, valued at approximately $2,249,421.02. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Wednesday, May 27th, Sean Compton sold 445 shares of Nexstar Media Group stock. The shares were 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 shares were sold at an average price of $196.00, for a total value of $980,000.00.

Nexstar Media Group Stock Up 0.6%

Nexstar Media Group stock traded up $1.01 during midday trading on Friday, reaching $182.02. The company's stock had a trading volume of 207,222 shares, compared to its average volume of 333,002. 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 quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market cap of $5.56 billion, a P/E ratio of 39.06, a P/E/G ratio of 0.45 and a beta of 0.91. The business has a 50-day simple moving average of $193.11 and a 200-day simple moving average of $207.52.

Nexstar Media Group Announces Dividend

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 dividend on an annualized basis and a yield of 4.1%. Nexstar Media Group's dividend payout ratio (DPR) is currently 159.66%.

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Nexstar Media Group by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company's stock worth $284,738,000 after acquiring an additional 10,949 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Nexstar Media Group by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company's stock valued at $239,950,000 after purchasing an additional 23,360 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Nexstar Media Group by 27.1% in the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company's stock valued at $152,598,000 after purchasing an additional 187,864 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Nexstar Media Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company's stock valued at $157,114,000 after purchasing an additional 13,084 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Nexstar Media Group by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company's stock valued at $116,427,000 after purchasing an additional 11,477 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company cut their target price on 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. Citigroup upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and cut their target price for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Barrington Research reiterated an "outperform" rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Zacks Research upgraded Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. One investment 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 data from MarketBeat.com, Nexstar Media Group presently has an average 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.

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