Nexstar Media Group (NASDAQ:NXST) Reaches New 52-Week High at $187.27

Nexstar Media Group, Inc. (NASDAQ:NXST)’s stock price reached a new 52-week high on Thursday . The company traded as high as $187.27 and last traded at $180.85, with a volume of 45456 shares changing hands. The stock had previously closed at $184.79.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Tuesday, July 23rd. Benchmark restated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Thursday, June 20th. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Finally, Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $221.00 in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and an average price target of $203.67.

Nexstar Media Group Price Performance

The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 0.65 and a beta of 1.50. The company has a fifty day simple moving average of $166.01 and a 200 day simple moving average of $166.82. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company earned $2.97 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a yield of 3.82%. Nexstar Media Group’s payout ratio is currently 57.19%.

Insider Activity

In related news, CFO Lee Ann Gliha sold 326 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $52,160.00. Following the completion of the sale, the chief financial officer now owns 5,462 shares of the company’s stock, valued at $873,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Lee Ann Gliha sold 326 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the sale, the chief financial officer now owns 5,462 shares in the company, valued at approximately $873,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Muse sold 365 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total value of $58,400.00. Following the sale, the director now directly owns 27,613 shares of the company’s stock, valued at $4,418,080. The disclosure for this sale can be found here. Insiders have sold 6,826 shares of company stock valued at $1,080,597 in the last ninety days. 5.90% of the stock is owned by company insiders.

Institutional Trading of Nexstar Media Group

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Nexstar Media Group by 1.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,485 shares of the company’s stock valued at $1,957,000 after purchasing an additional 165 shares during the last quarter. Fifth Third Bancorp boosted its stake in Nexstar Media Group by 7.8% in the fourth quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after acquiring an additional 81 shares during the last quarter. Clear Creek Financial Management LLC bought a new position in shares of Nexstar Media Group during the 4th quarter valued at approximately $314,000. International Assets Investment Management LLC increased its stake in shares of Nexstar Media Group by 15,107.2% during the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock worth $19,213,000 after purchasing an additional 121,764 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in shares of Nexstar Media Group in the 4th quarter worth approximately $81,000. Institutional investors own 95.30% of the company’s stock.

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.