Nexstar Media Group, Inc. (NASDAQ:NXST) Short Interest Update

Nexstar Media Group, Inc. (NASDAQ:NXST) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,840,000 shares, a drop of 14.8% from the March 15th total of 2,160,000 shares. Approximately 6.5% of the shares of the stock are short sold. Based on an average trading volume of 482,900 shares, the short-interest ratio is currently 3.8 days.

Nexstar Media Group Stock Up 0.2 %

NASDAQ NXST opened at $147.50 on Monday. The business’s fifty day simple moving average is $163.42 and its 200-day simple moving average is $163.68. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market cap of $4.50 billion, a PE ratio of 8.53, a P/E/G ratio of 0.45 and a beta of 1.09. Nexstar Media Group has a 52 week low of $143.32 and a 52 week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its 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 return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts anticipate that Nexstar Media Group will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 5.04%. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

Insider Activity

In other news, insider Andrew Alford sold 3,768 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Weitman sold 1,241 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the transaction, the insider now owns 3,975 shares in the company, valued at $704,409.75. This trade represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock worth $6,722,463 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Nexstar Media Group by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after purchasing an additional 68 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after buying an additional 73 shares during the period. Mariner LLC increased its position in shares of Nexstar Media Group by 5.3% during the fourth quarter. Mariner LLC now owns 2,300 shares of the company’s stock valued at $363,000 after acquiring an additional 115 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Nexstar Media Group by 7.3% in the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock valued at $273,000 after acquiring an additional 117 shares during the period. Finally, Trust Point Inc. lifted its holdings in shares of Nexstar Media Group by 5.4% in the 1st quarter. Trust Point Inc. now owns 2,334 shares of the company’s stock worth $418,000 after acquiring an additional 119 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NXST shares. Guggenheim raised their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Benchmark boosted their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average price target of $208.43.

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.