Nexstar Media Group (NASDAQ:NXST) Insider Sells $83,357.40 in Stock

Key Points

• Insider Sean Compton sold 445 shares of Nexstar Media Group at an average price of $187.32, totaling $83,357.40. The filing says the sale was to cover tax withholding obligations tied to vesting equity awards.
• Compton had also sold 5,000 shares on May 19 for about $980,000, and the article notes several other Nexstar insiders recently disclosed similar sales. These trades have raised some near-term sentiment concerns, though they are described as routine.
• Nexstar recently paid a quarterly dividend of $1.86 per share, equal to a 4.0% annualized yield. Meanwhile, analysts remain broadly positive, with an average Buy rating and a consensus price target of $259.67.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Sean Compton sold 445 shares of Nexstar Media Group stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $83,357.40. Following the transaction, the insider owned 11,807 shares in the company, valued at $2,211,687.24. This represents a 3.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 transaction of $980,000.00.

Nexstar Media Group Price Performance

NASDAQ:NXST traded down $2.91 during trading hours on Wednesday, reaching $185.12. The stock had a trading volume of 324,271 shares, compared to its average volume of 384,860. The stock has a market capitalization of $5.65 billion, a PE ratio of 39.73, a PEG ratio of 0.48 and a beta of 0.97. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30. The company has a 50 day moving average price of $200.38 and a two-hundred day moving average price of $207.99. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders 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 of this dividend is Friday, May 15th. Nexstar Media Group's payout ratio is presently 159.66%.

Key Stories 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

Several equities research analysts have recently issued reports on the stock. Guggenheim raised their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft cut their price target 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. Wall Street Zen raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Wells Fargo & Company dropped their target price on Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Finally, Barrington Research reiterated an "outperform" rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Nexstar Media Group currently has an average rating of "Buy" and an average price target of $259.67.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in Nexstar Media Group by 63.0% during the 3rd quarter. Principal Financial Group Inc. now owns 488,292 shares of the company's stock worth $96,557,000 after purchasing an additional 188,695 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Nexstar Media Group by 43.1% during the third quarter. Allianz Asset Management GmbH now owns 279,336 shares of the company's stock valued at $55,236,000 after buying an additional 84,163 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Nexstar Media Group by 19.9% in the third quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company's stock valued at $5,507,000 after acquiring an additional 4,616 shares in the last quarter. Alps Advisors Inc. lifted its stake in Nexstar Media Group by 2,272.2% in the third quarter. Alps Advisors Inc. now owns 49,460 shares of the company's stock worth $9,780,000 after acquiring an additional 47,375 shares during the period. Finally, M&T Bank Corp grew its holdings in Nexstar Media Group by 2,573.4% during the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company's stock worth $28,494,000 after acquiring an additional 134,871 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

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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