Nexstar Media Group (NXST) Downgraded by BidaskClub

Nexstar Media Group (NASDAQ:NXST) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Other analysts have also issued reports about the stock. Royal Bank of Canada reissued a “buy” rating and set a $95.00 price target on shares of Nexstar Media Group in a research report on Thursday, January 4th. Zacks Investment Research raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Saturday, October 21st. Deutsche Bank initiated coverage on shares of Nexstar Media Group in a research report on Friday, October 20th. They set a “buy” rating and a $80.00 price target for the company. Guggenheim initiated coverage on shares of Nexstar Media Group in a research report on Wednesday, October 18th. They set a “buy” rating and a $90.00 price target for the company. Finally, Noble Financial restated a “buy” rating on shares of Nexstar Media Group in a report on Thursday, December 21st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Nexstar Media Group currently has a consensus rating of “Buy” and an average target price of $85.10.

Shares of Nexstar Media Group (NXST) opened at $79.20 on Thursday. The company has a market cap of $3,579.22, a PE ratio of 29.77, a price-to-earnings-growth ratio of 0.75 and a beta of 2.21. Nexstar Media Group has a 1 year low of $55.95 and a 1 year high of $82.95. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.58.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Monday, November 6th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The business had revenue of $611.87 million during the quarter, compared to analyst estimates of $609.44 million. Nexstar Media Group had a net margin of 5.60% and a return on equity of 16.20%. The company’s quarterly revenue was up 122.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. equities research analysts predict that Nexstar Media Group will post 3.46 EPS for the current year.

In related news, SVP Blake Russell sold 20,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $78.31, for a total value of $1,566,200.00. Following the transaction, the senior vice president now owns 42,861 shares in the company, valued at approximately $3,356,444.91. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth Ryder sold 3,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $65.87, for a total transaction of $197,610.00. Following the completion of the transaction, the executive vice president now owns 5,210 shares in the company, valued at approximately $343,182.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 340,610 shares of company stock worth $22,968,294. Corporate insiders own 7.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Cerebellum GP LLC acquired a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $132,000. Victory Capital Management Inc. acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $172,000. Ameritas Investment Partners Inc. grew its stake in shares of Nexstar Media Group by 8.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock worth $239,000 after purchasing an additional 312 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $262,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $260,000.

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About Nexstar Media Group

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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