Key Points
- Nexstar Media Group EVP Lindsey Knapp sold 290 shares on June 2 at an average price of $184.27, totaling about $53,438. After the sale, Knapp held 870 shares, a 25% reduction in the position.
- Knapp also sold 92 shares on May 27 at an average price of $187.32, adding to the recent insider selling activity.
- The stock was trading around $181.52 and remains supported by a $1.86 quarterly dividend that yields about 4.1%, while analysts currently rate NXST a consensus Buy with a target price of $259.67.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) EVP Lindsey Knapp sold 290 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $184.27, for a total transaction of $53,438.30. Following the completion of the sale, the executive vice president directly owned 870 shares in the company, valued at approximately $160,314.90. This trade represents a 25.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Lindsey Knapp also recently made the following trade(s):
- On Wednesday, May 27th, Lindsey Knapp sold 92 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total transaction of $17,233.44.
Nexstar Media Group Stock Up 0.2%
Shares of NASDAQ:NXST opened at $181.52 on Thursday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth 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 quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm's 50 day moving average price is $194.65 and its 200 day moving average price is $207.71.
Nexstar Media Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, May 15th. Nexstar Media Group's dividend payout ratio is currently 159.66%.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Wells Fargo & Company dropped their price target 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 upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Citigroup upgraded shares of Nexstar Media Group from a "neutral" rating to a "buy" rating and dropped their price target for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Zacks Research upgraded shares of Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $259.67.
Check Out Our Latest Stock Analysis on NXST
Hedge Funds Weigh In On Nexstar Media Group
A number of hedge funds have recently modified their holdings of NXST. Integrated Wealth Concepts LLC purchased a new position in shares of Nexstar Media Group during the first quarter worth approximately $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Nexstar Media Group by 49.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company's stock worth $2,844,000 after acquiring an additional 5,251 shares during the last quarter. Millennium Management LLC grew its position in shares of Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company's stock worth $13,020,000 after acquiring an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company's stock worth $23,802,000 after acquiring an additional 16,637 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Nexstar Media Group during the first quarter worth approximately $654,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.
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.
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