Nexstar Media Group (NASDAQ:NXST) Rating Reiterated by Barrington Research

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “outperform” rating reiterated by investment analysts at Barrington Research in a research note issued on Thursday, Benzinga reports. They currently have a $200.00 price objective on the stock. Barrington Research’s price target would indicate a potential upside of 26.35% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $190.00 to $221.00 in a report on Monday, May 13th. Benchmark reaffirmed a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Thursday, June 20th. Finally, Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.67.

Nexstar Media Group Stock Down 2.2 %

Shares of NXST traded down $3.53 during mid-day trading on Thursday, hitting $158.29. 370,822 shares of the company’s stock were exchanged, compared to its average volume of 345,158. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.65 and a beta of 1.50. Nexstar Media Group has a fifty-two week low of $132.30 and a fifty-two week high of $187.27. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The stock’s 50-day moving average is $166.66 and its 200-day moving average is $166.68.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.64 EPS. On average, sell-side analysts anticipate that Nexstar Media Group will post 27.62 earnings per share for the current fiscal year.

Insider Transactions at Nexstar Media Group

In other news, insider Gary Weitman sold 522 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $149.08, for a total transaction of $77,819.76. Following the transaction, the insider now directly owns 12,477 shares in the company, valued at $1,860,071.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total value of $52,160.00. Following the completion of the sale, the chief financial officer now owns 5,462 shares of the company’s stock, valued at $873,920. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gary Weitman sold 522 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $77,819.76. Following the completion of the sale, the insider now directly owns 12,477 shares of the company’s stock, valued at approximately $1,860,071.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,826 shares of company stock worth $1,080,597. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently bought and sold shares of NXST. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC increased its position in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust acquired a new stake in Nexstar Media Group in the fourth quarter valued at approximately $33,000. SRS Capital Advisors Inc. grew its position in Nexstar Media Group by 350.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares in the last quarter. 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.