Nexstar Media Group (NASDAQ:NXST) Upgraded to “Buy” by StockNews.com

Nexstar Media Group (NASDAQ:NXST) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other research firms have also recently commented on NXST. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report 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. Benchmark reiterated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, August 9th. Finally, Wells Fargo & Company lowered 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 report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nexstar Media Group has an average rating of “Buy” and a consensus price target of $201.67.

Nexstar Media Group Stock Performance

Shares of NXST opened at $166.38 on Thursday. 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 52-week low of $132.30 and a 52-week high of $187.27. The stock has a 50 day moving average price of $168.52 and a 200 day moving average price of $165.90. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last posted its 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). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business earned $2.64 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts predict that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Insider Activity

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at $1,277,906.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction 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 owns 8,107 shares in the company, valued at $1,277,906.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay M. Grossman sold 10,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, September 18th. The shares were 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 of the company’s stock, valued at approximately $9,324,487.50. The disclosure for this sale can be found here. Insiders sold a total of 33,851 shares of company stock worth $5,690,416 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently bought and sold shares of the stock. Corient Private Wealth LLC boosted its position in shares of Nexstar Media Group by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 16,533 shares of the company’s stock worth $2,591,000 after buying an additional 143 shares during the period. Stifel Financial Corp lifted its holdings in Nexstar Media Group by 40.7% in the 4th quarter. Stifel Financial Corp now owns 35,809 shares of the company’s stock worth $5,613,000 after buying an additional 10,350 shares in the last quarter. TFO Wealth Partners LLC boosted its position in Nexstar Media Group by 21,766.7% in the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock valued at $103,000 after buying an additional 653 shares during the last quarter. Capstone Investment Advisors LLC grew its stake in shares of Nexstar Media Group by 119.5% during the fourth quarter. Capstone Investment Advisors LLC now owns 6,233 shares of the company’s stock valued at $977,000 after acquiring an additional 3,394 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth about $1,351,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.