Nexstar Media Group (NXST) Given “Buy” Rating at Benchmark

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “buy” rating reissued by stock analysts at Benchmark in a report issued on Wednesday. They currently have a $94.00 target price on the stock. Benchmark’s price target suggests a potential upside of 26.68% from the stock’s current price.

The analysts wrote, “We anticipate FCF and margins will be further augmented by swaps over the balance of the year, particularly now that there is legal clarity around the recent FCC in-market deregulation. We expect the M&A logjam will ease further once the Sinclair (SBGI:Buy) – Tribune (TRCO:Not Rated) merger closes.””

A number of other equities analysts have also recently commented on NXST. Zacks Investment Research cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Guggenheim assumed coverage on Nexstar Media Group in a report on Wednesday, October 18th. They set a “buy” rating and a $90.00 target price for the company. Deutsche Bank assumed coverage on Nexstar Media Group in a report on Friday, October 20th. They set a “buy” rating and a $80.00 target price for the company. FBR & Co assumed coverage on Nexstar Media Group in a report on Tuesday, October 31st. They set a “buy” rating and a $79.00 target price for the company. Finally, B. Riley reissued a “buy” rating and set a $79.00 target price on shares of Nexstar Media Group in a report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Nexstar Media Group currently has an average rating of “Buy” and a consensus price target of $86.90.

Nexstar Media Group (NASDAQ:NXST) traded down $0.30 during midday trading on Wednesday, reaching $74.20. The company had a trading volume of 467,411 shares, compared to its average volume of 592,074. The firm has a market cap of $3,340.00, a PE ratio of 27.89, a price-to-earnings-growth 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. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.58.

In other news, insider Timothy C. Busch sold 10,000 shares of the company’s 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 completion of the sale, the insider now directly owns 50,214 shares in the company, valued at $3,973,433.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisbeth Mcnabb sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $79.61, for a total value of $398,050.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $398,050. The disclosure for this sale can be found here. Insiders sold 40,610 shares of company stock valued at $3,129,294 over the last 90 days. Company insiders own 8.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC grew its position in shares of Nexstar Media Group by 3.8% in the third quarter. Neuberger Berman Group LLC now owns 3,390,284 shares of the company’s stock valued at $211,215,000 after purchasing an additional 122,949 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Nexstar Media Group by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 2,152,483 shares of the company’s stock valued at $134,100,000 after purchasing an additional 132,245 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Nexstar Media Group by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 1,756,748 shares of the company’s stock valued at $109,270,000 after purchasing an additional 158,626 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Nexstar Media Group by 2.9% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,583,020 shares of the company’s stock valued at $123,792,000 after purchasing an additional 44,735 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Nexstar Media Group by 10.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,551,140 shares of the company’s stock valued at $96,636,000 after purchasing an additional 141,940 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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