Sean Compton Sells 875 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Key Points

• Insider sale: Nexstar Media Group insider Sean Compton sold 875 shares on June 10 at an average price of $176.42, worth about $154,368. The sale reduced his ownership by 5.75% and was made to cover tax withholding obligations tied to equity awards.
• Recent selling trend: Compton has also sold shares in several earlier transactions over the past few weeks, including 5,000 shares on May 19. Those sales were made at progressively lower prices than the June 10 transaction.
• Stock and analyst backdrop: NXST rose 0.6% to $174.52, near the lower end of its 52-week range, while analysts remain broadly positive with a consensus Buy rating and a target price of $259.67. The company also pays a $1.86 quarterly dividend, yielding about 4.3%.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Sean Compton sold 875 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $154,367.50. Following the transaction, the insider owned 14,332 shares in the company, valued at $2,528,451.44. The trade was a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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 Trading Up 0.6%

NXST traded up $1.11 during trading on Thursday, hitting $174.52. 342,542 shares of the stock were exchanged, compared to its average volume of 381,985. The firm has a 50 day simple moving average of $191.36 and a 200 day simple moving average of $207.47. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 37.45, a P/E/G ratio of 0.45 and a beta of 0.91. Nexstar Media Group, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30. 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 was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, May 15th. Nexstar Media Group's dividend payout ratio (DPR) is presently 159.66%.

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of analyst reports. Citigroup upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and cut their price target for the company from $252.00 to $220.00 in a report on Friday, April 10th. Benchmark cut their price target on Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Guggenheim lifted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company a "buy" rating in a report on Friday, February 27th. Wall Street Zen upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $259.67.

Institutional Trading of Nexstar Media Group

A number of institutional investors have recently made changes to their positions in the business. CWA Asset Management Group LLC boosted its position in shares of Nexstar Media Group by 1.7% in the 4th quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company's stock worth $630,000 after purchasing an additional 51 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Nexstar Media Group by 1.6% in the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company's stock worth $725,000 after purchasing an additional 56 shares in the last quarter. Truist Financial Corp boosted its position in shares of Nexstar Media Group by 5.2% in the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company's stock worth $231,000 after purchasing an additional 56 shares in the last quarter. WPG Advisers LLC boosted its position 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 worth $36,000 after purchasing an additional 71 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Nexstar Media Group by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company's stock worth $102,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

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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