Nexstar Media Group (NASDAQ:NXST) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Nexstar Media Group (NASDAQ:NXST) from a buy rating to a hold rating in a research report released on Monday.

Other equities research analysts also recently issued research reports about the stock. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, February 27th. Benchmark lifted their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday. Guggenheim boosted their price target on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $200.00 in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.29.

Nexstar Media Group Trading Up 2.3 %

NASDAQ NXST opened at $172.96 on Monday. Nexstar Media Group has a 12 month low of $146.04 and a 12 month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock’s fifty day moving average price is $155.29 and its 200-day moving average price is $163.47. The stock has a market cap of $5.37 billion, a P/E ratio of 10.00, a P/E/G ratio of 0.45 and a beta of 1.45.

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

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.86 dividend. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.30%. Nexstar Media Group’s dividend payout ratio is currently 43.03%.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 875 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $172.00, for a total value of $150,500.00. Following the transaction, the director now directly owns 5,752 shares in the company, valued at approximately $989,344. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were 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 directly owns 674,694 shares of the company’s stock, valued at approximately $106,203,582.54. The trade was a 7.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,493 shares of company stock valued at $20,354,366. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Nexstar Media Group by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after buying an additional 68 shares during the period. Jones Financial Companies Lllp increased its holdings in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares in the last quarter. Mariner LLC raised its stake in Nexstar Media Group by 5.3% during the 4th quarter. Mariner LLC now owns 2,300 shares of the company’s stock worth $363,000 after acquiring an additional 115 shares during the period. Natixis Advisors LLC lifted its holdings in Nexstar Media Group by 1.2% during the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after purchasing an additional 117 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in shares of Nexstar Media Group by 7.3% in the fourth quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock worth $273,000 after purchasing an additional 117 shares during the period. 95.30% of the stock is currently 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.