Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Recommendation of “Buy” by Analysts

Nexstar Media Group, Inc. (NASDAQ:NXST) has been given a consensus rating of “Buy” by the eight ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $259.6667.

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wells Fargo & Company cut their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th.

Nexstar Media Group Trading Up 4.1%

NASDAQ NXST opened at $170.73 on Tuesday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 0.41 and a beta of 0.91. The company’s 50-day simple moving average is $186.59 and its two-hundred day simple moving average is $205.32. Nexstar Media Group has a one year low of $154.47 and a one year high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.4%. Nexstar Media Group’s payout ratio is presently 159.66%.

Insider Activity

In related news, insider Dana Zimmer sold 915 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $161,424.30. Following the transaction, the insider directly owned 5,738 shares in the company, valued at $1,012,297.96. The trade was a 13.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total value of $180,000.00. Following the transaction, the director owned 5,658 shares in the company, valued at approximately $1,018,440. This trade represents a 15.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,813 shares of company stock worth $4,174,731 over the last quarter. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Western Wealth Management LLC purchased a new stake in Nexstar Media Group during the 1st quarter worth approximately $1,229,000. NewEdge Advisors LLC grew its position in Nexstar Media Group by 7,750.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock worth $1,633,000 after purchasing an additional 8,913 shares during the last quarter. Bank of America Corp DE grew its position in Nexstar Media Group by 17.0% during the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after purchasing an additional 25,193 shares during the last quarter. Janus Henderson Group PLC grew its position in Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after purchasing an additional 11,477 shares during the last quarter. Finally, Strategic Investment Advisors MI purchased a new stake in Nexstar Media Group during the 1st quarter worth approximately $154,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.