Nexstar Media Group (NASDAQ:NXST) Downgraded by Loop Capital to “Hold”

Nexstar Media Group (NASDAQ:NXST) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Marketbeat reports. They presently have a $190.00 target price on the stock, down from their prior target price of $200.00. Loop Capital’s price objective indicates a potential upside of 14.43% from the stock’s current price.

Several other research firms have also issued reports on NXST. Guggenheim cut their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. 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. Finally, StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.50.

Nexstar Media Group Stock Down 11.9 %

NASDAQ NXST traded down $22.46 during trading on Friday, reaching $166.04. 1,148,413 shares of the company’s stock traded hands, compared to its average volume of 278,403. The company’s 50 day simple moving average is $168.54 and its two-hundred day simple moving average is $166.97. Nexstar Media Group has a 12-month low of $140.92 and a 12-month high of $191.86. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 0.21 and a beta of 1.48. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. As a group, sell-side analysts forecast that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Insider Buying and Selling at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the transaction, the director now directly owns 7,725 shares in the company, valued at $1,270,299. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated 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 transaction, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the sale, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,112 shares of company stock worth $6,887,029. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new position in Nexstar Media Group in the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group in the 3rd quarter valued at approximately $44,000. UMB Bank n.a. raised its stake in shares of Nexstar Media Group by 117.8% in the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock valued at $49,000 after acquiring an additional 159 shares in the last quarter. Finally, 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 purchasing an additional 156 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.