Guggenheim Boosts Nexstar Media Group (NASDAQ:NXST) Price Target to $220.00

Nexstar Media Group (NASDAQ:NXST) had its price objective boosted by analysts at Guggenheim from $210.00 to $220.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 30.06% from the company’s current price.

A number of other brokerages have also recently issued reports on NXST. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $190.00 to $200.00 in a report on Friday. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday. Benchmark reiterated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Nexstar Media Group presently has an average rating of “Buy” and a consensus target price of $210.29.

Nexstar Media Group Stock Up 4.0 %

Shares of NASDAQ NXST opened at $169.15 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market cap of $5.25 billion, a PE ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.45. The company’s fifty day simple moving average is $155.29 and its 200 day simple moving average is $163.44. Nexstar Media Group has a 12-month low of $146.04 and a 12-month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts forecast that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the sale, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at approximately $1,362,360.30. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles Thomas Mcmillen sold 750 shares of Nexstar Media Group stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total value of $119,947.50. Following the sale, the director now owns 6,975 shares in the company, valued at $1,115,511.75. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,493 shares of company stock valued at $20,354,366. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $25,000. True Wealth Design LLC bought a new stake in Nexstar Media Group during the third quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group in the 3rd quarter worth approximately $33,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Nexstar Media Group in the 3rd quarter worth $44,000. 95.30% of the stock is currently owned by institutional investors.

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.