Nexstar Media Group (NASDAQ:NXST) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Nexstar Media Group (NASDAQ:NXSTFree Report) from a buy rating to a hold rating in a research note published on Friday morning.

A number of other equities research analysts have also weighed in on NXST. Wells Fargo & Company cut their target price on shares of 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 objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Nexstar Media Group from $207.00 to $205.00 and set a buy rating for the company in a research report on Friday, August 9th. Finally, Benchmark restated a buy rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $201.14.

Get Our Latest Research Report on NXST

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $163.45 on Friday. The firm has a fifty day simple moving average of $166.74 and a two-hundred day simple moving average of $165.85. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group has a twelve month low of $133.55 and a twelve month high of $187.27. The company has a market capitalization of $5.38 billion, a PE ratio of 13.83, a P/E/G ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.64 EPS. Research analysts expect that Nexstar Media Group will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s payout ratio is 57.19%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jay M. Grossman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the sale, the director now owns 54,625 shares in the company, valued at approximately $9,324,487.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total value of $1,061,374.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,112 shares of company stock valued at $6,887,029. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of large investors have recently bought and sold shares of the business. Whittier Trust Co. acquired a new stake in Nexstar Media Group in the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 259 shares in the last quarter. GAMMA Investing LLC grew 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 worth $49,000 after buying an additional 156 shares during the last quarter. Mascoma Wealth Management LLC acquired a new position in Nexstar Media Group during the 2nd quarter valued at about $49,000. Finally, Quarry LP raised its stake in Nexstar Media Group by 77.8% in the second quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after buying an additional 130 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

About Nexstar Media Group

(Get Free Report)

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.

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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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