Nexstar Media Group (NASDAQ:NXST) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Nexstar Media Group (NASDAQ:NXST) from a hold rating to a buy rating in a report published on Thursday morning.

NXST has been the topic of several other reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $207.00 to $205.00 and set a buy rating on the stock in a 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 on the stock in a research report on Friday, August 9th. Barrington Research restated an outperform rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Benchmark reiterated a buy rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $201.67.

Nexstar Media Group Stock Up 1.0 %

Nexstar Media Group stock opened at $166.38 on Thursday. The stock has a fifty day moving average of $168.52 and a 200 day moving average of $165.90. Nexstar Media Group has a one year low of $132.30 and a one year high of $187.27. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market cap of $5.48 billion, a PE 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 released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.64 EPS. As a group, sell-side analysts predict that Nexstar Media Group will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a yield of 4.06%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insider Activity

In related news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the transaction, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nexstar Media Group news, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the sale, the director now directly owns 54,625 shares of the company’s stock, valued at approximately $9,324,487.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 250 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at $1,270,299. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,851 shares of company stock valued at $5,690,416. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Delphi Management Inc. MA lifted its stake in shares of Nexstar Media Group by 2.9% during the 2nd quarter. Delphi Management Inc. MA now owns 10,227 shares of the company’s stock worth $1,698,000 after purchasing an additional 286 shares during the period. Founders Financial Alliance LLC raised its position in Nexstar Media Group by 21.5% in the second quarter. Founders Financial Alliance LLC now owns 2,950 shares of the company’s stock valued at $490,000 after purchasing an additional 522 shares during the period. Truist Financial Corp raised its position in Nexstar Media Group by 5.2% in the second quarter. Truist Financial Corp now owns 9,733 shares of the company’s stock valued at $1,616,000 after purchasing an additional 482 shares during the period. Quarry LP grew its stake in shares of Nexstar Media Group by 77.8% during the second quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after acquiring an additional 130 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Nexstar Media Group by 38.7% during the second quarter. Sunbelt Securities Inc. now owns 785 shares of the company’s stock valued at $130,000 after acquiring an additional 219 shares in the last quarter. 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.