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

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

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a buy rating on the stock in a report on Friday, August 9th. Wells Fargo & Company cut their target price on Nexstar Media Group from $221.00 to $209.00 and set an overweight rating on the stock in a research note on Friday, August 9th. Barrington Research reaffirmed an outperform rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, Benchmark reiterated a buy rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $201.67.

Nexstar Media Group Stock Down 0.2 %

NXST opened at $167.66 on Tuesday. Nexstar Media Group has a 12 month low of $132.30 and a 12 month high of $187.27. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The business’s 50-day moving average price is $170.02 and its 200-day moving average price is $165.69. The company has a market cap of $5.52 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.18 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. Nexstar Media Group’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.64 earnings per share. On average, equities analysts expect that Nexstar Media Group will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s payout ratio is presently 57.19%.

Insider Buying and Selling

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the director now owns 7,975 shares in the company, valued at approximately $1,276,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the director now directly owns 7,975 shares in the company, valued at $1,276,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. The disclosure for this sale can be found here. Insiders have sold a total of 27,644 shares of company stock valued at $4,643,760 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Nexstar Media Group

Several institutional investors have recently bought and sold shares of NXST. Whittier Trust Co. bought a new position in shares of Nexstar Media Group in the second quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its position in shares of Nexstar Media Group by 632.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after acquiring an additional 177 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after acquiring an additional 259 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.