Nexstar Media Group (NASDAQ:NXST) Given New $225.00 Price Target at Barrington Research

Nexstar Media Group (NASDAQ:NXST) had its target price upped by Barrington Research from $200.00 to $225.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

NXST has been the topic of several other research reports. Benchmark raised their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company raised their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Nexstar Media Group Stock Up 3.9%

NASDAQ:NXST opened at $194.07 on Monday. The firm has a market capitalization of $5.92 billion, a P/E ratio of 10.08, a PEG ratio of 1.38 and a beta of 1.05. Nexstar Media Group has a 1-year low of $141.66 and a 1-year high of $201.38. The company’s fifty day moving average price is $178.89 and its 200-day moving average price is $167.98. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.95 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.44%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $3.54 earnings per share. As a group, equities research analysts anticipate that Nexstar Media Group will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $1.86 dividend. The ex-dividend date is Friday, August 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.8%. Nexstar Media Group’s dividend payout ratio (DPR) is 38.63%.

Insiders Place Their Bets

In other news, insider Brett Jenkins sold 610 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $100,802.50. Following the sale, the insider owned 25,616 shares in the company, valued at $4,233,044. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rachel Morgan sold 329 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $54,367.25. Following the completion of the sale, the executive vice president owned 2,122 shares in the company, valued at approximately $350,660.50. This trade represents a 13.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,474 shares of company stock valued at $3,666,988. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of Nexstar Media Group by 375.0% in the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after buying an additional 179 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Nexstar Media Group in the second quarter worth about $43,000. Parkside Financial Bank & Trust lifted its stake in shares of Nexstar Media Group by 70.6% in the second quarter. Parkside Financial Bank & Trust now owns 273 shares of the company’s stock worth $47,000 after buying an additional 113 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its stake in shares of Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock worth $55,000 after buying an additional 274 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.