StockNews.com Upgrades Nexstar Media Group (NASDAQ:NXST) to Buy

Nexstar Media Group (NASDAQ:NXST) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other analysts have also recently commented on the company. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company dropped their price target on 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. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $200.00 to $190.00 in a research report on Friday. Finally, Guggenheim dropped their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $198.50.

Nexstar Media Group Stock Down 11.9 %

Shares of NXST stock opened at $166.04 on Friday. The stock has a market cap of $5.36 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.21 and a beta of 1.48. Nexstar Media Group has a twelve month low of $140.92 and a twelve month high of $191.86. The stock has a 50 day moving average of $168.54 and a 200 day moving average of $166.97. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST) last posted 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 analysts’ expectations of $1.37 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, sell-side analysts expect that Nexstar Media Group will post 25.72 EPS for the current year.

Insiders Place Their Bets

In other news, insider Andrew Alford sold 3,175 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the sale, the insider now owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the firm’s 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 sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,112 shares of company stock worth $6,887,029 in the last quarter. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new position in Nexstar Media Group during the second quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $44,000. GAMMA Investing LLC grew its stake in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in shares of Nexstar Media Group in the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds 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.