Nexstar Media Group (NASDAQ:NXST) Hits New 12-Month Low – What’s Next?

Nexstar Media Group, Inc. (NASDAQ:NXST)’s share price hit a new 52-week low on Tuesday . The company traded as low as $145.79 and last traded at $147.25, with a volume of 446272 shares changing hands. The stock had previously closed at $150.67.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NXST shares. Guggenheim raised their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Rosenblatt Securities restated a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Price Performance

The firm has a market cap of $4.51 billion, a PE ratio of 8.55, a P/E/G ratio of 0.45 and a beta of 1.09. The firm’s fifty day simple moving average is $163.93 and its two-hundred day simple moving average is $164.72. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 5.03%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

Insider Buying and Selling

In other Nexstar Media Group news, insider Andrew Alford sold 3,768 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the sale, the insider now owns 5,405 shares in the company, valued at $983,601.90. The trade was a 41.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Weitman sold 1,241 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the transaction, the insider now owns 3,975 shares of the company’s stock, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,105 shares of company stock valued at $6,722,463. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Nexstar Media Group

Several hedge funds have recently modified their holdings of the company. Quantinno Capital Management LP raised its stake in Nexstar Media Group by 27.6% during the third quarter. Quantinno Capital Management LP now owns 4,287 shares of the company’s stock valued at $709,000 after purchasing an additional 928 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Nexstar Media Group by 136.8% in the 3rd quarter. Stifel Financial Corp now owns 30,355 shares of the company’s stock valued at $5,019,000 after acquiring an additional 17,535 shares during the last quarter. Weiss Asset Management LP purchased a new position in Nexstar Media Group in the third quarter worth about $443,000. Kovitz Investment Group Partners LLC purchased a new position in Nexstar Media Group in the third quarter worth about $1,168,000. Finally, Insigneo Advisory Services LLC bought a new stake in Nexstar Media Group during the third quarter worth approximately $305,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.