Nexstar Media Group (NASDAQ:NXST) Shares Up 5.7% After Analyst Upgrade

Nexstar Media Group, Inc. (NASDAQ:NXST)’s stock price rose 5.7% on Friday after Benchmark raised their price target on the stock from $200.00 to $225.00. Benchmark currently has a buy rating on the stock. Nexstar Media Group traded as high as $171.50 and last traded at $171.89. Approximately 58,161 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 310,952 shares. The stock had previously closed at $162.58.

A number of other research firms have also weighed in on NXST. 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 research note on Friday. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $200.00 in a report on Friday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $210.29.

Insider Activity at Nexstar Media Group

In related news, Director Bernadette S. Aulestia sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total transaction of $82,225.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $328,900. This represents a 20.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $106,203,582.54. This trade represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,493 shares of company stock worth $20,354,366. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Nexstar Media Group

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in Nexstar Media Group during the 3rd quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group during the fourth quarter worth about $25,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group during the third quarter worth approximately $30,000. Wilmington Savings Fund Society FSB acquired a new stake in Nexstar Media Group in the third quarter valued at approximately $33,000. Finally, Capital Performance Advisors LLP purchased a new position in Nexstar Media Group in the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 4.0 %

The business’s 50 day moving average is $155.29 and its 200-day moving average is $163.44. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market cap of $5.25 billion, a PE ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.40%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is presently 43.03%.

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.