Nexstar Media Group (NASDAQ:NXST) Rating Reiterated by Benchmark

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a research report issued on Friday, Benzinga reports. They presently have a $225.00 price target on the stock. Benchmark’s price target would indicate a potential upside of 42.14% from the stock’s previous close.

NXST has been the topic of several other research reports. 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. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Finally, Wells Fargo & Company reduced their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

Nexstar Media Group Price Performance

NXST traded down $3.53 during trading on Friday, hitting $158.29. The company’s stock had a trading volume of 370,822 shares, compared to its average volume of 345,158. The firm has a market capitalization 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 twelve month low of $132.30 and a twelve month high of $187.27. The business’s fifty day simple moving average is $166.66 and its 200 day simple moving average is $166.64. 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 released 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). The company 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%. Nexstar Media Group’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.64 EPS. On average, equities research analysts forecast that Nexstar Media Group will post 27.62 EPS for the current fiscal year.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 1,475 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $166.08, for a total transaction of $244,968.00. Following the transaction, the director now directly owns 6,175 shares in the company, valued at approximately $1,025,544. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $166.08, for a total transaction of $244,968.00. Following the transaction, the director now owns 6,175 shares in the company, valued at approximately $1,025,544. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Blake Russell sold 433 shares of the business’s stock in a transaction dated 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 directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,826 shares of company stock worth $1,080,597. Insiders own 5.90% of the company’s stock.

Institutional Trading of Nexstar Media Group

Hedge funds have recently made changes to their positions in the company. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group in the 2nd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its stake in shares of Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after buying an additional 177 shares during the period. First United Bank & Trust purchased a new stake in shares of Nexstar Media Group in the 4th quarter valued at approximately $33,000. SRS Capital Advisors Inc. grew its stake in shares of Nexstar Media Group by 350.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after buying an additional 186 shares during the period. Finally, 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 buying an additional 259 shares during the period. Hedge funds and other institutional investors 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.