Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $204.29.

Several research firms have commented on NXST. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Benchmark reiterated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

Nexstar Media Group Trading Up 1.7 %

Shares of NASDAQ NXST opened at $153.34 on Friday. Nexstar Media Group has a 1-year low of $147.25 and a 1-year high of $191.86. The business has a fifty day moving average price of $156.99 and a 200 day moving average price of $164.58. The stock has a market capitalization of $4.76 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 0.44 and a beta of 1.45. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.86 per share. The ex-dividend date is Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.85%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is currently 43.03%.

Insider Activity

In other news, CEO Perry A. Sook sold 35,205 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $109,388,138.22. This represents a 4.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $170.64, for a total transaction of $739,041.84. Following the transaction, the insider now directly owns 25,540 shares of the company’s stock, valued at approximately $4,358,145.60. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,209 shares of company stock valued at $21,499,239. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently modified their holdings of NXST. Brooklyn Investment Group acquired a new position in Nexstar Media Group in the third quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at $25,000. True Wealth Design LLC purchased a new stake in Nexstar Media Group during the third quarter worth $30,000. Wilmington Savings Fund Society FSB acquired a new stake in Nexstar Media Group during the third quarter valued at $33,000. Finally, Capital Performance Advisors LLP purchased a new position in Nexstar Media Group in the third quarter valued at $44,000. 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.