Nexstar Media Group (NASDAQ:NXST) Rating Increased to Buy at StockNews.com

Nexstar Media Group (NASDAQ:NXST) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other research firms also recently weighed in on NXST. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company reduced their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and issued a $225.00 price objective 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Buy” and a consensus price target of $201.67.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $1.31 during midday trading on Monday, reaching $162.76. 256,007 shares of the company traded hands, compared to its average volume of 332,828. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50. The business has a 50 day moving average of $170.38 and a two-hundred day moving average of $165.65. Nexstar Media Group has a 12 month low of $132.30 and a 12 month high of $187.27. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly 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). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business posted $2.64 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Nexstar Media Group will post 25.72 earnings per share for the current year.

Insider Activity at Nexstar Media Group

In related news, EVP Rachel Morgan sold 6,196 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lee Ann Gliha sold 747 shares of Nexstar Media Group stock in a transaction on Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $111,362.76. Following the completion of the transaction, the chief financial officer now directly owns 6,591 shares of the company’s stock, valued at $982,586.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,911 shares of company stock valued at $2,939,762. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently made changes to their positions in the company. Delphi Management Inc. MA lifted its holdings in Nexstar Media Group by 2.9% during the 2nd quarter. Delphi Management Inc. MA now owns 10,227 shares of the company’s stock valued at $1,698,000 after buying an additional 286 shares in the last quarter. Founders Financial Alliance LLC grew its position in shares of Nexstar Media Group by 21.5% in the 2nd quarter. Founders Financial Alliance LLC now owns 2,950 shares of the company’s stock worth $490,000 after buying an additional 522 shares during the last quarter. Truist Financial Corp grew its position in Nexstar Media Group by 5.2% during the 2nd quarter. Truist Financial Corp now owns 9,733 shares of the company’s stock worth $1,616,000 after purchasing an additional 482 shares during the last quarter. Quarry LP grew its position in Nexstar Media Group by 77.8% during the 2nd quarter. Quarry LP now owns 297 shares of the company’s stock worth $49,000 after purchasing an additional 130 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in Nexstar Media Group by 38.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 785 shares of the company’s stock worth $130,000 after purchasing an additional 219 shares during the last quarter. Institutional investors 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.