Nexstar Media Group (NXST) Downgraded to “Hold” at BidaskClub

Nexstar Media Group (NASDAQ:NXST) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

A number of other equities analysts have also weighed in on the company. B. Riley set a $139.00 price objective on Nexstar Media Group and gave the stock a “buy” rating in a research note on Tuesday. Barrington Research reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Nexstar Media Group in a research note on Monday. Zacks Investment Research lowered Nexstar Media Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Benchmark reaffirmed a “buy” rating and issued a $120.00 price objective (up previously from $115.00) on shares of Nexstar Media Group in a research note on Thursday, March 21st. Finally, ValuEngine raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $113.13.

Shares of NASDAQ NXST traded up $0.11 during mid-day trading on Wednesday, reaching $105.12. The company’s stock had a trading volume of 639,296 shares, compared to its average volume of 530,672. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.59 and a beta of 1.58. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.00. Nexstar Media Group has a 52 week low of $65.20 and a 52 week high of $119.93.



Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Wednesday, May 8th. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.02). The business had revenue of $626.65 million during the quarter, compared to the consensus estimate of $640.35 million. Nexstar Media Group had a return on equity of 23.08% and a net margin of 14.26%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. Research analysts expect that Nexstar Media Group will post 6.67 EPS for the current fiscal year.

In related news, Director Dennis Miller sold 3,125 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $72.31, for a total transaction of $225,968.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Jones sold 35,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $108.31, for a total value of $3,790,850.00. Following the transaction, the insider now directly owns 52,734 shares of the company’s stock, valued at $5,711,619.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,573 shares of company stock valued at $5,142,132. 6.40% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Legacy Bridge LLC bought a new position in Nexstar Media Group during the first quarter valued at approximately $26,000. Penserra Capital Management LLC bought a new position in Nexstar Media Group during the fourth quarter valued at approximately $28,000. Rockefeller Capital Management L.P. boosted its stake in Nexstar Media Group by 260.6% during the first quarter. Rockefeller Capital Management L.P. now owns 375 shares of the company’s stock valued at $40,000 after buying an additional 271 shares during the last quarter. Private Capital Group LLC boosted its stake in Nexstar Media Group by 46.3% during the first quarter. Private Capital Group LLC now owns 392 shares of the company’s stock valued at $42,000 after buying an additional 124 shares during the last quarter. Finally, Synovus Financial Corp bought a new position in Nexstar Media Group during the first quarter valued at approximately $54,000.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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