Barrington Research Reaffirms Outperform Rating for Nexstar Media Group (NASDAQ:NXST)

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a note issued to investors on Wednesday,Benzinga reports. They presently have a $200.00 target price on the stock. Barrington Research’s price target would indicate a potential upside of 15.88% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday. Guggenheim raised their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Benchmark raised their price target 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. Finally, Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.29.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $172.59 on Wednesday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.45 and a beta of 1.45. The company has a 50 day moving average of $155.98 and a 200-day moving average of $163.64. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group has a 1-year low of $146.04 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted 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). The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, equities analysts forecast that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 35,205 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. This trade represents a 4.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the transaction, the director now directly owns 4,975 shares in the company, valued at approximately $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,589 shares of company stock valued at $26,171,210. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Nexstar Media Group during the third quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in shares of Nexstar Media Group during the fourth quarter worth $25,000. True Wealth Design LLC bought a new position in shares of Nexstar Media Group during the third quarter worth $30,000. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group during the third quarter worth $33,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Nexstar Media Group during the third quarter worth $44,000. 95.30% of the stock is owned by 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.