Guggenheim Analysts Give Nexstar Media Group (NXST) a $88.00 Price Target

Nexstar Media Group (NASDAQ:NXST) has been given a $88.00 price objective by Guggenheim in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 18.60% from the stock’s previous close.

A number of other analysts have also issued reports on the company. BidaskClub raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Deutsche Bank started coverage on Nexstar Media Group in a research note on Friday, October 20th. They issued a “buy” rating and a $80.00 price target on the stock. Noble Financial reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Thursday, December 21st. Zacks Investment Research lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $95.00 price target on shares of Nexstar Media Group in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $86.90.

Shares of Nexstar Media Group (NASDAQ NXST) traded down $0.30 during trading hours on Wednesday, hitting $74.20. The stock had a trading volume of 460,097 shares, compared to its average volume of 591,852. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $3,340.00, a price-to-earnings ratio of 28.01, a PEG ratio of 0.70 and a beta of 1.83. Nexstar Media Group has a 12-month low of $55.95 and a 12-month high of $82.95.

In related news, Director Lisbeth Mcnabb sold 5,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $79.61, for a total transaction of $398,050.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $398,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Timothy C. Busch sold 10,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $79.13, for a total value of $791,300.00. Following the transaction, the insider now owns 50,214 shares in the company, valued at approximately $3,973,433.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,610 shares of company stock worth $3,129,294. 8.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. lifted its position in Nexstar Media Group by 0.6% during the second quarter. UBS Asset Management Americas Inc. now owns 23,312 shares of the company’s stock worth $1,394,000 after buying an additional 131 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Nexstar Media Group by 8.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock worth $239,000 after buying an additional 312 shares in the last quarter. Rhumbline Advisers lifted its position in Nexstar Media Group by 1.5% during the third quarter. Rhumbline Advisers now owns 52,910 shares of the company’s stock worth $3,296,000 after buying an additional 776 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Nexstar Media Group by 12.1% during the third quarter. Envestnet Asset Management Inc. now owns 8,413 shares of the company’s stock worth $523,000 after buying an additional 908 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in Nexstar Media Group by 3.9% during the third quarter. Macquarie Group Ltd. now owns 25,292 shares of the company’s stock worth $1,576,000 after buying an additional 940 shares in the last quarter.

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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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