Benchmark Has Lowered Expectations for Nexstar Media Group (NASDAQ:NXST) Stock Price

Nexstar Media Group (NASDAQ:NXST) had its target price reduced by Benchmark from $300.00 to $250.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 32.35% from the stock’s current price.

NXST has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Barrington Research restated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, March 3rd. Citigroup upped their price objective on Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Finally, Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $273.67.

Nexstar Media Group Trading Up 1.5%

Shares of NXST stock opened at $188.90 on Monday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 2.07 and a current ratio of 2.07. Nexstar Media Group has a 1 year low of $141.66 and a 1 year high of $254.30. The stock has a fifty day moving average of $224.68 and a two-hundred day moving average of $207.95. The firm has a market capitalization of $5.73 billion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 0.71 and a beta of 0.93.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWA Asset Management Group LLC raised its position in shares of Nexstar Media Group by 1.7% during the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock worth $630,000 after purchasing an additional 51 shares during the period. Merit Financial Group LLC raised its position in shares of Nexstar Media Group by 1.6% during the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after purchasing an additional 56 shares during the period. Truist Financial Corp raised its position in shares of Nexstar Media Group by 5.2% during the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after purchasing an additional 56 shares during the period. Verdence Capital Advisors LLC raised its position in shares of Nexstar Media Group by 0.6% during the third quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after purchasing an additional 68 shares during the period. Finally, WPG Advisers LLC raised its position in shares of 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 period. 95.30% of the stock is owned by institutional investors and hedge funds.

About Nexstar Media Group

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.