Nexstar Media Group (NASDAQ:NXST) Stock Price Expected to Rise, Benchmark Analyst Says

Nexstar Media Group (NASDAQ:NXST) had its price target lifted by equities research analysts at Benchmark from $200.00 to $225.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective points to a potential upside of 31.17% from the company’s current price.

Several other research firms have also recently commented on NXST. Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Friday. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $210.29.

Nexstar Media Group Trading Up 5.5 %

NASDAQ:NXST traded up $8.95 on Friday, hitting $171.53. 302,163 shares of the stock were exchanged, compared to its average volume of 315,782. The stock has a market cap of $5.32 billion, a PE ratio of 9.88, a PEG ratio of 0.45 and a beta of 1.45. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a fifty day moving average of $155.08 and a 200-day moving average of $163.29. Nexstar Media Group has a fifty-two week low of $146.04 and a fifty-two week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts expect that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 52,808 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $106,203,582.54. The trade was a 7.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisbeth Mcnabb sold 875 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $172.00, for a total value of $150,500.00. Following the transaction, the director now directly owns 5,752 shares in the company, valued at approximately $989,344. This represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,493 shares of company stock valued at $20,354,366 in the last three months. 6.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at $6,496,000. Jefferies Financial Group Inc. acquired a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $2,086,000. Integrated Advisors Network LLC raised its stake in shares of Nexstar Media Group by 9.6% in the 4th quarter. Integrated Advisors Network LLC now owns 1,461 shares of the company’s stock valued at $231,000 after purchasing an additional 128 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Nexstar Media Group by 12.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,172 shares of the company’s stock valued at $18,352,000 after purchasing an additional 12,695 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Nexstar Media Group in the 4th quarter valued at about $7,075,000. 95.30% of the stock is currently owned by institutional investors.

About Nexstar Media Group

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.