Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Recommendation of “Moderate Buy” by Analysts

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $259.6667.

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Barrington Research reissued an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Benchmark cut their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $190.53 on Friday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. Nexstar Media Group has a fifty-two week low of $154.47 and a fifty-two week high of $254.30. The company has a 50 day simple moving average of $178.62 and a two-hundred day simple moving average of $201.60. The company has a market capitalization of $5.82 billion, a PE ratio of 40.89, a P/E/G ratio of 0.51 and a beta of 0.91.

Insider Buying and Selling

In other news, insider Sean Compton sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the transaction, the insider directly owned 11,252 shares of the company’s stock, valued at $2,205,392. The trade was a 30.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Biard sold 1,227 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $174.21, for a total value of $213,755.67. Following the sale, the chief operating officer owned 17,105 shares in the company, valued at approximately $2,979,862.05. The trade was a 6.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,813 shares of company stock worth $4,174,731 over the last three months. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors have recently made changes to their positions in the stock. Torren Management LLC acquired a new position in Nexstar Media Group during the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the 3rd quarter valued at $28,000. WPG Advisers LLC boosted its holdings in 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. State of Wyoming purchased a new position in shares of Nexstar Media Group in the 2nd quarter worth approximately $54,000. Finally, Danske Bank A S bought a new position in Nexstar Media Group in the 3rd quarter valued at $59,000. 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.