Nexstar Media Group (NASDAQ:NXST) CEO Perry Sook Acquires 12,235 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry Sook bought 12,235 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were purchased at an average cost of $162.26 per share, for a total transaction of $1,985,251.10. Following the acquisition, the chief executive officer owned 899,044 shares of the company’s stock, valued at $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Nexstar Media Group Stock Performance

NXST opened at $170.73 on Tuesday. The business has a 50 day moving average price of $186.59 and a two-hundred day moving average price of $205.32. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 0.41 and a beta of 0.91. Nexstar Media Group, Inc. has a 1-year low of $154.47 and a 1-year high of $254.30.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s payout ratio is presently 159.66%.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Benchmark cut their target price on shares of 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. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Finally, Barrington Research restated an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $259.67.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors have recently bought and sold shares of the stock. Dorsal Capital Management LP purchased a new stake in Nexstar Media Group during the third quarter valued at about $74,152,000. QVT Financial LP increased its position in shares of Nexstar Media Group by 200.0% in 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 in the last quarter. AQR Capital Management LLC raised its holdings in shares of Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after acquiring an additional 294,308 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Nexstar Media Group by 157.2% during the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after acquiring an additional 228,603 shares during the period. Finally, Norges Bank purchased a new stake in shares of Nexstar Media Group in the 4th quarter valued at approximately $41,474,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

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.