Key Points
- Nexstar EVP Lee Ann Gliha sold 752 shares on June 10 at an average price of $176.42, totaling about $132,668. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
- Gliha has also sold shares recently on June 4 and May 27, while several other Nexstar insiders reportedly sold stock at the same $176.42 price level for similar tax-related reasons.
- Nexstar shares are under pressure, trading below both the 50-day and 200-day moving averages, even as analysts still generally rate the stock a Buy with a consensus price target of $259.67.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) EVP Blake Russell sold 239 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $42,164.38. Following the completion of the sale, the executive vice president directly owned 27,901 shares of the company's stock, valued at approximately $4,922,294.42. This represents a 0.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Blake Russell also recently made the following trade(s):
- On Thursday, June 4th, Blake Russell sold 319 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $58,191.98.
- On Wednesday, May 27th, Blake Russell sold 185 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $34,654.20.
Nexstar Media Group Stock Up 0.6%
Shares of NXST opened at $174.52 on Friday. The firm has a market cap of $5.33 billion, a P/E ratio of 37.45, a P/E/G ratio of 0.44 and a beta of 0.91. The stock has a 50 day simple moving average of $191.24 and a two-hundred day simple moving average of $207.36. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. Nexstar Media Group, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30.
Nexstar Media Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 4.3%. Nexstar Media Group's dividend payout ratio is currently 159.66%.
Wall Street Analyst Weigh In
NXST has been the subject of several research reports. Citigroup raised Nexstar Media Group from a "neutral" rating to a "buy" rating and cut their target price for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Barrington Research reissued an "outperform" rating and set a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Finally, Benchmark dropped their price objective on Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of "Buy" and an average target price of $259.67.
Read Our Latest Stock Report on NXST
Institutional Trading of Nexstar Media Group
Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its holdings in shares of Nexstar Media Group by 7,750.4% during the first quarter. NewEdge Advisors LLC now owns 9,028 shares of the company's stock valued at $1,633,000 after acquiring an additional 8,913 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Nexstar Media Group during the first quarter valued at $1,229,000. Bank of America Corp DE boosted its position in Nexstar Media Group by 17.0% in the first quarter. Bank of America Corp DE now owns 173,269 shares of the company's stock worth $31,332,000 after purchasing an additional 25,193 shares during the last quarter. Janus Henderson Group PLC boosted its position in Nexstar Media Group by 1.8% in the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company's stock worth $116,427,000 after purchasing an additional 11,477 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new position in shares of Nexstar Media Group in the first quarter worth about $154,000. Hedge funds and other institutional investors own 95.30% of the company's stock.
Key Stories Impacting Nexstar Media Group
Here are the key news stories impacting Nexstar Media Group this week:
- Neutral Sentiment: Several Nexstar executives and insiders, including EVP Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, and Blake Russell, sold shares at $176.42. The company says these sales were tied to tax-withholding obligations related to vesting equity awards, which makes them less concerning than open-market selling. Nexstar Media Group insider filing
- Neutral Sentiment: Recent reporting also noted that NXST has fallen over the past month and remains below key moving averages, suggesting continued technical weakness that may be weighing on sentiment. Nexstar Media Group stock down article
- Neutral Sentiment: The company still offers a relatively attractive dividend yield, but its payout ratio is elevated, which may temper enthusiasm from income-focused investors. Nexstar Media Group stock page
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.
Further Reading
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