Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $259.6667.

NXST has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Wall Street Zen lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Zacks Research downgraded shares of Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Wells Fargo & Company cut their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th.

Nexstar Media Group Stock Up 1.2%

Shares of NASDAQ:NXST opened at $183.31 on Friday. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market capitalization of $5.60 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 0.48 and a beta of 0.91. The firm’s 50-day moving average is $178.48 and its two-hundred day moving average is $202.15. Nexstar Media Group has a 1 year low of $154.47 and a 1 year high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.1%. Nexstar Media Group’s dividend payout ratio is 159.66%.

Insider Buying and Selling

In related news, insider Dana Zimmer sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $149,629.56. Following the sale, the insider directly owned 5,800 shares in the company, valued at approximately $990,698. This represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gary Weitman sold 261 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $44,581.41. Following the completion of the sale, the insider directly owned 6,963 shares in the company, valued at approximately $1,189,350.03. This trade represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,813 shares of company stock worth $4,174,731 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently modified their holdings of NXST. A&I Financial Services LLC grew its stake in shares of Nexstar Media Group by 17.6% during the second quarter. A&I Financial Services LLC now owns 3,907 shares of the company’s stock worth $698,000 after purchasing an additional 585 shares in the last quarter. Gradient Investments LLC boosted its holdings in Nexstar Media Group by 6.6% in the second quarter. Gradient Investments LLC now owns 9,122 shares of the company’s stock valued at $1,629,000 after purchasing an additional 567 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Nexstar Media Group in the second quarter valued at approximately $63,000. CX Institutional increased its stake in Nexstar Media Group by 16.0% in the second quarter. CX Institutional now owns 40,423 shares of the company’s stock valued at $7,219,000 after purchasing an additional 5,567 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new stake in Nexstar Media Group during the first quarter worth approximately $1,229,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Company Profile

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.