Nexstar Media Group, Inc. (NASDAQ:NXST – Get Free Report) EVP Lindsey Knapp sold 92 shares of Nexstar Media Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $17,233.44. Following the completion of the transaction, the executive vice president directly owned 1,160 shares of the company’s stock, valued at $217,291.20. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Nexstar Media Group Stock Up 0.4%
Shares of Nexstar Media Group stock opened at $185.94 on Friday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The company has a 50-day simple moving average of $198.32 and a two-hundred day simple moving average of $207.93. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30. The stock has a market capitalization of $5.68 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 0.50 and a beta of 0.97.
Nexstar Media Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend 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%.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on NXST
Institutional Investors Weigh In On Nexstar Media Group
A number of hedge funds have recently modified their holdings of NXST. Dorsal Capital Management LP bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $74,152,000. QVT Financial LP grew its position in shares of Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after acquiring an additional 310,562 shares during the period. AQR Capital Management LLC grew its position in shares of Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after acquiring an additional 294,308 shares during the period. JPMorgan Chase & Co. grew its position in shares of Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after acquiring an additional 228,603 shares during the period. Finally, Norges Bank bought a new stake in shares of Nexstar Media Group during the 4th quarter valued at $41,474,000. Institutional investors own 95.30% of the company’s stock.
Trending Headlines about Nexstar Media Group
Here are the key news stories impacting Nexstar Media Group this week:
- Positive Sentiment: NXST was highlighted in a Zacks piece on PEG-driven value stocks, which can support the bull case by keeping the name on investors’ radar as a relatively undervalued growth stock. Article title
- Neutral Sentiment: Several Nexstar executives and insiders sold shares at $187.32, but the filings say the transactions were made to cover tax withholding tied to equity award vesting, which usually limits the bearish signal. SEC filing reference
- Neutral Sentiment: Reported short interest was shown as zero shares, so there is no meaningful short-selling data in this update to explain the stock’s move. Article reference
- Negative Sentiment: The cluster of insider sales from multiple executives, including the COO and several EVPs, may weigh on sentiment in the near term even though the sales were non-discretionary. MarketBeat insider trades page
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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