Nexstar Media Group (NASDAQ:NXST) Stock Rating Upgraded by StockNews.com

Nexstar Media Group (NASDAQ:NXST) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company cut their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Benchmark restated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday. Guggenheim cut their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded down $22.46 during trading hours on Friday, reaching $166.04. 1,148,299 shares of the company were exchanged, compared to its average volume of 278,403. Nexstar Media Group has a 12 month low of $140.92 and a 12 month high of $191.86. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.21 and a beta of 1.48. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock has a 50-day moving average of $168.63 and a 200 day moving average of $166.91.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. As a group, research analysts anticipate that Nexstar Media Group will post 25.72 earnings per share for the current year.

Insider Activity

In other news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the sale, the insider now owns 10,684 shares in the company, valued at approximately $1,715,957.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,112 shares of company stock worth $6,887,029. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXST. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Nexstar Media Group in the first quarter valued at approximately $2,111,000. Vanguard Group Inc. raised its position in Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after purchasing an additional 127,783 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Nexstar Media Group by 116.3% in the first quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock worth $5,235,000 after purchasing an additional 16,338 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Nexstar Media Group during the second quarter worth $570,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Nexstar Media Group by 17.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 98,272 shares of the company’s stock valued at $16,932,000 after buying an additional 14,574 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.