Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $198.50.

Several analysts have issued reports on NXST shares. Wells Fargo & Company decreased their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Benchmark reaffirmed a "buy" rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Barrington Research reissued an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Finally, Guggenheim reduced their target price on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a research report on Friday, October 4th.

Insider Activity

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the director now directly owns 7,975 shares of the company's stock, valued at approximately $1,276,000. The trade was a 11.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brett Jenkins sold 4,331 shares of Nexstar Media Group stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $170.64, for a total transaction of $739,041.84. Following the completion of the sale, the insider now owns 25,540 shares of the company's stock, valued at $4,358,145.60. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,423 shares of company stock worth $7,916,739 over the last three months. Insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its stake in Nexstar Media Group by 8.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company's stock worth $410,000 after purchasing an additional 188 shares during the last quarter. GAMMA Investing LLC grew its holdings in Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company's stock valued at $49,000 after purchasing an additional 156 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Nexstar Media Group by 299.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,851 shares of the company's stock worth $639,000 after purchasing an additional 2,886 shares in the last quarter. CWM LLC increased its position in shares of Nexstar Media Group by 60.7% in the second quarter. CWM LLC now owns 1,178 shares of the company's stock worth $196,000 after acquiring an additional 445 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Nexstar Media Group by 3.0% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,704 shares of the company's stock valued at $781,000 after acquiring an additional 138 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Price Performance

NASDAQ NXST traded up $1.24 on Monday, reaching $171.83. The company had a trading volume of 148,974 shares, compared to its average volume of 327,280. The firm's 50 day moving average price is $169.31 and its 200 day moving average price is $166.99. Nexstar Media Group has a 12 month low of $141.38 and a 12 month high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $5.33 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The company's revenue was up 20.7% compared to the same quarter last year. As a group, equities analysts predict that Nexstar Media Group will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $1.69 per share. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.93%. Nexstar Media Group's payout ratio is currently 39.10%.

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.