Key Points
- Insider selling: Nexstar Media Group insider Sean Compton sold 5,000 shares at $196 each, totaling about $980,000. After the transaction, he still held 11,252 shares, and the sale reduced his ownership by 30.77%.
- Dividend update: The company declared a quarterly dividend of $1.86 per share, payable May 29 to shareholders of record on May 15. That works out to an annualized dividend of $7.44 and a yield of 3.9%.
- Analyst sentiment remains positive: Several firms maintained or raised bullish ratings on NXST, with the consensus view still at Buy and an average price target of $259.67. Zacks recently upgraded the stock to Strong Buy.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Dan Lanzano sold 237 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $196.37, for a total value of $46,539.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Nexstar Media Group Price Performance
NXST opened at $188.63 on Wednesday. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 0.59 and a beta of 0.97. Nexstar Media Group, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a fifty day moving average price of $205.69 and a 200 day moving average price of $208.25.
Nexstar Media Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 3.9%. Nexstar Media Group's dividend payout ratio (DPR) is presently 159.66%.
Hedge Funds Weigh In On Nexstar Media Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC bought a new position in Nexstar Media Group during the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the third quarter valued at about $28,000. Root Financial Partners LLC bought a new position in Nexstar Media Group during the third quarter valued at about $31,000. WPG Advisers LLC increased its stake in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company's stock valued at $36,000 after acquiring an additional 71 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company's stock valued at $40,000 after acquiring an additional 125 shares during the period. 95.30% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective 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. Benchmark reduced their price objective on Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Wall Street Zen raised Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Saturday. Zacks Research raised Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Finally, Citigroup upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and cut their target price for the company from $252.00 to $220.00 in a report 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 given a Hold rating to the company. Based on data from MarketBeat, Nexstar Media Group has an average rating of "Buy" and an average price target of $259.67.
Check Out Our Latest Report on Nexstar Media Group
Nexstar Media Group Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
