Nexstar Media Group (NASDAQ:NXST) Given "Buy" Rating at Rosenblatt Securities

Nexstar Media Group (NASDAQ:NXST - Get Free Report)'s stock had its "buy" rating restated by analysts at Rosenblatt Securities in a research note issued on Monday,Benzinga reports. They presently have a $200.00 price objective on the stock. Rosenblatt Securities' price target suggests a potential upside of 18.30% from the company's current price.

Other analysts have also recently issued reports about the company. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Guggenheim increased their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Benchmark upped their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 28th. Barrington Research reissued an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Finally, StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $208.43.

Remove Ads

Nexstar Media Group Stock Down 4.5 %

Shares of NASDAQ NXST traded down $7.88 during midday trading on Monday, hitting $169.06. 816,855 shares of the company's stock were exchanged, compared to its average volume of 392,699. The firm's fifty day simple moving average is $156.61 and its 200-day simple moving average is $163.71. The company has a market cap of $5.16 billion, a PE ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.47. Nexstar Media Group has a twelve month low of $146.04 and a twelve month high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.48 billion. Research analysts predict that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Bernadette S. Aulestia sold 500 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $164.45, for a total value of $82,225.00. Following the completion of the sale, the director now owns 2,000 shares of the company's stock, valued at approximately $328,900. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Weitman sold 1,241 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the transaction, the insider now directly owns 3,975 shares in the company, valued at approximately $704,409.75. This trade represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,955 shares of company stock worth $26,240,628. Company insiders own 6.30% of the company's stock.

Institutional Trading of Nexstar Media Group

A number of institutional investors have recently added to or reduced their stakes in the stock. TFR Capital LLC. acquired a new position in Nexstar Media Group during the fourth quarter worth about $254,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Nexstar Media Group in the 4th quarter worth $6,496,000. Jefferies Financial Group Inc. acquired a new position in Nexstar Media Group in the fourth quarter valued at $2,086,000. Integrated Advisors Network LLC grew its position in Nexstar Media Group by 9.6% during the fourth quarter. Integrated Advisors Network LLC now owns 1,461 shares of the company's stock valued at $231,000 after acquiring an additional 128 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Nexstar Media Group by 12.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,172 shares of the company's stock worth $18,352,000 after acquiring an additional 12,695 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

About Nexstar Media Group

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.