Key Points
- Insider sale: Nexstar Media Group insider Andrew Alford sold 605 shares on May 28 at an average price of $185.33, for proceeds of about $112,125. After the sale, he still held 11,689 shares.
- Recent follow-up trade: Alford also sold 395 shares the previous day at $187.32, indicating back-to-back insider selling activity.
- Dividend and analyst backdrop: Nexstar recently paid a quarterly dividend of $1.86 per share, yielding about 4.0%, while analysts currently view the stock favorably overall with a consensus rating of Buy and an average price target of $259.67.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Andrew Alford sold 605 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $185.33, for a total value of $112,124.65. Following the sale, the insider directly owned 11,689 shares in the company, valued at $2,166,322.37. The trade was a 4.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Andrew Alford also recently made the following trade(s):
- On Wednesday, May 27th, Andrew Alford sold 395 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $73,991.40.
Nexstar Media Group Price Performance
Shares of NASDAQ:NXST opened at $184.40 on Tuesday. Nexstar Media Group, Inc. has a 1-year low of $164.00 and a 1-year high of $254.30. The firm has a market capitalization of $5.63 billion, a PE ratio of 39.57, a PEG ratio of 0.45 and a beta of 0.97. The business's 50 day moving average is $196.53 and its 200-day moving average is $207.77. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53.
Nexstar Media Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.0%. Nexstar Media Group's payout ratio is currently 159.66%.
Wall Street Analyst Weigh In
NXST has been the topic of several recent analyst reports. Zacks Research raised Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Wells Fargo & Company decreased their price target on 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. Barrington Research reaffirmed an "outperform" rating and issued a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $259.67.
Check Out Our Latest Stock Report on Nexstar Media Group
Institutional Investors Weigh In On Nexstar Media Group
A number of institutional investors and hedge funds have recently made changes to their positions in the company. CWA Asset Management Group LLC raised its position in shares of Nexstar Media Group by 1.7% during the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company's stock worth $630,000 after acquiring an additional 51 shares during the last quarter. Merit Financial Group LLC raised its position in shares of Nexstar Media Group by 1.6% during the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company's stock worth $725,000 after acquiring an additional 56 shares during the last quarter. Truist Financial Corp raised its position in shares of Nexstar Media Group by 5.2% during the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company's stock worth $231,000 after acquiring an additional 56 shares during the last quarter. WPG Advisers LLC raised its position in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company's stock worth $36,000 after acquiring an additional 71 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company's stock worth $102,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 95.30% of the company's stock.
About Nexstar Media Group
(
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.
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