Nexstar Media Group (NASDAQ:NXST) Stock Rating Upgraded by StockNews.com

Nexstar Media Group (NASDAQ:NXST) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other analysts have also recently issued reports on NXST. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Wells Fargo & Company lowered 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 report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $201.67.

Nexstar Media Group Stock Performance

NXST opened at $166.38 on Thursday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.19 and a beta of 1.49. Nexstar Media Group has a fifty-two week low of $132.30 and a fifty-two week high of $187.27. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The company has a fifty day moving average of $168.52 and a 200 day moving average of $165.90.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.64 EPS. As a group, sell-side analysts forecast that Nexstar Media Group will post 25.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Compton sold 3,930 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the transaction, the insider now owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. The disclosure for this sale can be found here. Insiders have sold a total of 33,851 shares of company stock worth $5,690,416 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds have recently made changes to their positions in the company. Whittier Trust Co. acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares in the last quarter. GAMMA Investing LLC increased its stake in Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after buying an additional 156 shares during the period. Mascoma Wealth Management LLC acquired a new stake in Nexstar Media Group during the 2nd quarter worth approximately $49,000. Finally, Quarry LP lifted its holdings 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 buying an additional 130 shares in the last quarter. Institutional investors and hedge funds 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.