Key Points
- EVP Lee Ann Gliha sold 258 shares of Nexstar Media Group at an average price of $182.42, a transaction worth about $47,064. The sale reduced her position by 1.38% and was made to cover tax withholding tied to vesting equity awards.
- Insider selling has been broad recently, with Gliha and several other executives filing share sales, which may weigh on sentiment even though the company says many were related to equity vesting taxes.
- Wall Street remains bullish on NXST, with brokerages maintaining a consensus Buy rating and an average price target of $259.67, well above the stock’s recent trading level around $182.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) EVP Lee Ann Gliha sold 258 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $182.42, for a total transaction of $47,064.36. Following the completion of the transaction, the executive vice president owned 18,387 shares of the company's stock, valued at approximately $3,354,156.54. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Lee Ann Gliha also recently made the following trade(s):
- On Wednesday, May 27th, Lee Ann Gliha sold 742 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total transaction of $138,991.44.
Nexstar Media Group Stock Performance
NASDAQ:NXST opened at $182.02 on Friday. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. The company has a fifty day simple moving average of $193.11 and a two-hundred day simple moving average of $207.52. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 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.
Nexstar Media Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group's payout ratio is 159.66%.
Nexstar Media Group News Roundup
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 Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Dorsal Capital Management LP acquired a new position in shares of Nexstar Media Group during the third quarter worth about $74,152,000. QVT Financial LP increased its stake in shares of Nexstar Media Group by 200.0% during the fourth quarter. QVT Financial LP now owns 155,281 shares of the company's stock worth $31,530,000 after acquiring an additional 310,562 shares during the period. AQR Capital Management LLC grew its position in Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company's stock worth $93,795,000 after buying an additional 294,308 shares during the period. JPMorgan Chase & Co. grew its position in Nexstar Media Group by 157.2% during the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company's stock worth $73,960,000 after buying an additional 228,603 shares during the period. Finally, Norges Bank acquired a new position in Nexstar Media Group during the fourth quarter worth about $41,474,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Guggenheim lifted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Zacks Research raised shares of Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Barrington Research reissued an "outperform" rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, April 28th. Finally, Wells Fargo & Company cut their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Nexstar Media Group currently has a consensus rating of "Buy" and an average price target of $259.67.
Get Our Latest Stock 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.
Further Reading
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