Nexstar Media Group, Inc. (NASDAQ:NXST – Get Free Report) insider Andrew Alford sold 368 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $182.42, for a total transaction of $67,130.56. Following the transaction, the insider owned 12,259 shares of the company’s stock, valued at approximately $2,236,286.78. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a 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.
Andrew Alford also recently made the following trade(s):
- On Thursday, May 28th, Andrew Alford sold 605 shares of Nexstar Media Group stock. The shares were sold at an average price of $185.33, for a total transaction of $112,124.65.
- On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $73,991.40.
Nexstar Media Group Stock Performance
NASDAQ NXST opened at $182.02 on Monday. The firm’s fifty day moving average price is $193.11 and its two-hundred day moving average price is $207.66. The stock has a market cap of $5.56 billion, a PE ratio of 39.06, a PEG ratio of 0.46 and a beta of 0.91. 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 debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76.
Nexstar Media Group Announces Dividend
Nexstar Media Group News Summary
Here are the key news stories impacting Nexstar Media Group this week:
- Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
- Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
- Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
- Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades
Institutional Trading of Nexstar Media Group
Several institutional investors have recently modified their holdings of the business. CWA Asset Management Group LLC grew its stake in shares of Nexstar Media Group by 1.7% in the fourth 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 during the last quarter. Merit Financial Group LLC grew its stake in shares of Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after purchasing an additional 56 shares during the last quarter. Truist Financial Corp grew its stake in shares of Nexstar Media Group by 5.2% in the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after purchasing an additional 56 shares during the last quarter. WPG Advisers LLC grew its stake in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Nexstar Media Group by 15.7% in the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on NXST. Benchmark decreased their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Finally, Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $259.67.
Read Our Latest Stock Report on NXST
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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