Key Points
- Nexstar CEO Perry Sook bought 12,235 shares of NXST on June 26 at an average price of $162.26, a purchase worth about $1.99 million. After the transaction, he owned 899,044 shares, increasing his stake by 1.38%.
- The stock opened at $170.73 and has traded between a 52-week low of $154.47 and a high of $254.30. Nexstar also has a market cap of $5.21 billion and a dividend yield of 4.4% based on its recent $1.86 quarterly payout.
- Wall Street remains broadly bullish on Nexstar, with several analysts maintaining buy ratings and a consensus target price of $259.67. Institutional ownership is also high, with hedge funds and other investors holding 95.3% of the shares.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) CEO Perry Sook bought 12,235 shares of Nexstar Media Group stock in a transaction dated Friday, June 26th. The stock was acquired at an average price of $162.26 per share, with a total value of $1,985,251.10. Following the acquisition, the chief executive officer directly owned 899,044 shares of the company's stock, valued at approximately $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Nexstar Media Group Stock Performance
Shares of NXST stock opened at $170.73 on Tuesday. Nexstar Media Group, Inc. has a 1-year low of $154.47 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 company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 36.64, a P/E/G ratio of 0.41 and a beta of 0.91. The stock's fifty day simple moving average is $186.59 and its 200-day simple moving average is $205.32.
Nexstar Media Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.4%. Nexstar Media Group's dividend payout ratio (DPR) is presently 159.66%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Benchmark lowered their target price on Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Citigroup raised shares of Nexstar Media Group from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating for the company in a report on Monday, May 11th. Wall Street Zen raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $259.67.
Read Our Latest Stock Report on Nexstar Media Group
Institutional Trading of Nexstar Media Group
A number of institutional investors have recently bought and sold shares of the company. M&T Bank Corp lifted its holdings in shares of Nexstar Media Group by 2,573.4% during the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company's stock valued at $28,494,000 after buying an additional 134,871 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Nexstar Media Group by 3,648.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,995 shares of the company's stock valued at $13,197,000 after buying an additional 63,261 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nexstar Media Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company's stock valued at $157,114,000 after buying an additional 13,084 shares in the last quarter. Sentinel Dome Partners LLC acquired a new position in Nexstar Media Group in the fourth quarter worth approximately $2,315,000. Finally, CPC Advisors LLC increased its holdings in Nexstar Media Group by 114.3% in the first quarter. CPC Advisors LLC now owns 26,651 shares of the company's stock worth $4,819,000 after buying an additional 14,217 shares during the last quarter. Institutional investors and hedge funds 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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