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.
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.
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