Nexstar Media Group (NASDAQ:NXST) PT Lowered to $209.00 at Wells Fargo & Company

Nexstar Media Group (NASDAQ:NXST) had its price objective cut by stock analysts at Wells Fargo & Company from $221.00 to $209.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 31.55% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $201.67.

Nexstar Media Group Stock Down 2.9 %

NASDAQ NXST traded down $4.67 during mid-day trading on Friday, reaching $158.88. 94,741 shares of the company’s stock traded hands, compared to its average volume of 343,354. The company has a fifty day simple moving average of $166.80 and a 200-day simple moving average of $166.81. Nexstar Media Group has a 1-year low of $132.30 and a 1-year high of $187.27. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.65 and a beta of 1.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $2.64 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Nexstar Media Group will post 27.62 EPS for the current year.

Insider Activity

In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Charles Thomas Mcmillen sold 1,475 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $166.08, for a total value of $244,968.00. Following the completion of the sale, the director now directly owns 6,175 shares of the company’s stock, valued at approximately $1,025,544. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Blake Russell sold 433 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,826 shares of company stock valued at $1,080,597. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXST. Cornercap Investment Counsel Inc. bought a new position in shares of Nexstar Media Group during the 2nd quarter valued at about $570,000. Qsemble Capital Management LP lifted its stake in Nexstar Media Group by 49.6% during the second quarter. Qsemble Capital Management LP now owns 3,067 shares of the company’s stock valued at $509,000 after purchasing an additional 1,017 shares during the last quarter. American Century Companies Inc. boosted its holdings in Nexstar Media Group by 9.6% during the second quarter. American Century Companies Inc. now owns 8,319 shares of the company’s stock worth $1,381,000 after buying an additional 732 shares in the last quarter. Bahl & Gaynor Inc. grew its position in Nexstar Media Group by 1.1% in the second quarter. Bahl & Gaynor Inc. now owns 99,764 shares of the company’s stock worth $16,562,000 after buying an additional 1,125 shares during the last quarter. Finally, Provident Investment Management Inc. increased its holdings in shares of Nexstar Media Group by 30.2% in the second quarter. Provident Investment Management Inc. now owns 5,564 shares of the company’s stock valued at $924,000 after buying an additional 1,290 shares in the last quarter. 95.30% of the stock is owned by 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.