Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $259.67 Average PT from Analysts

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $259.6667.

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Wall Street Zen cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Barrington Research restated an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th.

Nexstar Media Group Trading Up 1.6%

Shares of NXST opened at $196.94 on Friday. Nexstar Media Group has a 52-week low of $154.47 and a 52-week high of $254.30. The business’s fifty day moving average is $178.52 and its 200-day moving average is $201.79. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 0.52 and a beta of 0.91.

Insiders Place Their Bets

In other news, insider Sean Compton sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the transaction, the insider directly owned 11,252 shares in the company, valued at approximately $2,205,392. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Zimmer sold 915 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $161,424.30. Following the completion of the transaction, the insider owned 5,738 shares of the company’s stock, valued at $1,012,297.96. The trade was a 13.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,813 shares of company stock worth $4,174,731 over the last 90 days. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Torren Management LLC bought a new position in Nexstar Media Group in the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group during the third quarter valued at about $28,000. WPG Advisers LLC grew its holdings in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares during the last quarter. Danske Bank A S bought a new stake in shares of Nexstar Media Group during the third quarter worth about $59,000. Finally, State of Wyoming acquired a new position in shares of Nexstar Media Group in the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.