Nexstar Media Group (NASDAQ:NXST) Shares Up 5.7% on Analyst Upgrade

Nexstar Media Group, Inc. (NASDAQ:NXST) was up 5.7% during mid-day trading on Friday after Benchmark raised their price target on the stock from $200.00 to $225.00. Benchmark currently has a buy rating on the stock. Nexstar Media Group traded as high as $171.50 and last traded at $171.89. Approximately 58,161 shares traded hands during trading, a decline of 81% from the average daily volume of 310,952 shares. The stock had previously closed at $162.58.

A number of other research analysts also recently weighed in on the stock. Guggenheim increased their target price on shares of 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 report on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday. Finally, Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price target for the company from $190.00 to $200.00 in a research report on Friday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $210.29.

Insider Buying and Selling at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 750 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the transaction, the director now owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. The trade was a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lisbeth Mcnabb sold 875 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $172.00, for a total transaction of $150,500.00. Following the completion of the transaction, the director now directly owns 5,752 shares of the company’s stock, valued at approximately $989,344. The trade was a 13.20 % decrease in their ownership of the stock. 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 90 days. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after buying an additional 1,202,453 shares in the last quarter. Demars Financial Group LLC increased its stake in Nexstar Media Group by 16,009.5% in the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock valued at $122,227,000 after acquiring an additional 768,934 shares during the last quarter. Norges Bank purchased a new stake in Nexstar Media Group during the fourth quarter valued at about $44,460,000. Proficio Capital Partners LLC bought a new stake in Nexstar Media Group during the fourth quarter worth about $35,560,000. Finally, Invesco Ltd. boosted its holdings in shares of Nexstar Media Group by 185.0% in the 4th quarter. Invesco Ltd. now owns 219,561 shares of the company’s stock worth $34,684,000 after purchasing an additional 142,520 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

The stock has a market capitalization of $5.25 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a 50-day moving average price of $155.08 and a 200 day moving average price of $163.29.

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). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is presently 43.03%.

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.