Nexstar Media Group (NASDAQ:NXST) Earns Buy Rating from Benchmark

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “buy” rating reissued by analysts at Benchmark in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $215.00 target price on the stock. Benchmark’s price objective suggests a potential upside of 14.06% from the company’s previous close.

A number of other research firms also recently weighed in on NXST. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $200.00 to $190.00 in a report on Friday. Guggenheim cut their target price on shares of 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. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Stock Up 2.9 %

Shares of Nexstar Media Group stock opened at $188.50 on Friday. Nexstar Media Group has a 1-year low of $140.92 and a 1-year high of $191.86. The company has a market capitalization of $6.08 billion, a PE ratio of 14.82, a P/E/G ratio of 0.20 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. The business has a 50-day moving average of $168.63 and a 200-day moving average of $166.91.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company posted $0.70 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities 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 other news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of the 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 transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock worth $6,887,029 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new stake in Nexstar Media Group in the second quarter worth about $27,000. Allspring Global Investments Holdings LLC raised its position in shares of 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 acquired a new stake in shares of Nexstar Media Group in the 3rd quarter worth approximately $44,000. GAMMA Investing LLC boosted its holdings in shares of Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in shares of Nexstar Media Group in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.