Nexstar Media Group (NASDAQ:NXST) Upgraded at Wells Fargo & Co

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.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($2.36). The business had revenue of $663.60 million during the quarter, compared to the consensus estimate of $644.00 million. Nexstar Media Group had a return on equity of 16.74% and a net margin of 9.87%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 earnings per share. As a group, sell-side analysts anticipate that Nexstar Media Group will post 6.55 earnings per share for the current year.

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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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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