Wells Fargo & Co upgraded shares of Nexstar Media Group (NASDAQ:NXST) from an equal weight rating to an overweight rating in a report released on Monday, January 6th, BenzingaRatingsTable reports. Wells Fargo & Co currently has $149.00 price target on the stock.
Other analysts also recently issued reports about the stock. B. Riley reiterated a buy rating and issued a $140.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, November 20th. BidaskClub cut shares of Nexstar Media Group from a buy rating to a hold rating in a research note on Saturday, January 4th. ValuEngine cut shares of Nexstar Media Group from a hold rating to a sell rating in a research note on Friday, January 3rd. Zacks Investment Research raised shares of Nexstar Media Group from a hold rating to a buy rating and set a $114.00 target price on the stock in a research report on Saturday, November 16th. Finally, Benchmark lifted their target price on shares of Nexstar Media Group from $135.00 to $150.00 and gave the stock a buy rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $139.14.
NXST stock traded down $2.64 during mid-day trading on Monday, hitting $127.30. 3,041 shares of the company were exchanged, compared to its average volume of 482,156. The company has a market capitalization of $5.74 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 4.30. Nexstar Media Group has a twelve month low of $79.79 and a twelve month high of $130.66. The firm has a fifty day simple moving average of $114.24 and a 200 day simple moving average of $104.29.
In related news, EVP Elizabeth Ryder sold 9,500 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $110.03, for a total transaction of $1,045,285.00. Following the transaction, the executive vice president now owns 4,192 shares of the company’s stock, valued at $461,245.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas Carter sold 2,363 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $105.00, for a total transaction of $248,115.00. Following the transaction, the chief financial officer now directly owns 100,552 shares in the company, valued at approximately $10,557,960. The disclosure for this sale can be found here. Insiders have sold 45,663 shares of company stock worth $5,031,382 over the last ninety days. 6.40% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new stake in Nexstar Media Group in the 2nd quarter valued at $203,000. Bank of Montreal Can grew its holdings in shares of Nexstar Media Group by 66.4% in the 2nd quarter. Bank of Montreal Can now owns 44,812 shares of the company’s stock worth $4,526,000 after purchasing an additional 17,883 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Nexstar Media Group by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 558,205 shares of the company’s stock worth $56,379,000 after purchasing an additional 49,100 shares during the last quarter. Resources Investment Advisors LLC. bought a new stake in shares of Nexstar Media Group in the 2nd quarter worth about $119,000. Finally, GAM Holding AG grew its holdings in shares of Nexstar Media Group by 35.1% in the 2nd quarter. GAM Holding AG now owns 10,509 shares of the company’s stock worth $1,061,000 after purchasing an additional 2,732 shares during the last quarter.
About Nexstar Media Group
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.
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