Nexstar Media Group (NASDAQ:NXST) PT Lowered to $198.00 at Guggenheim

Nexstar Media Group (NASDAQ:NXST) had its price target cut by investment analysts at Guggenheim from $200.00 to $198.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 21.25% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Wells Fargo & Company lowered their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average price target of $201.14.

Nexstar Media Group Stock Up 0.4 %

Shares of Nexstar Media Group stock traded up $0.66 during midday trading on Friday, reaching $163.30. 66,863 shares of the company’s stock traded hands, compared to its average volume of 329,029. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. Nexstar Media Group has a 52 week low of $132.30 and a 52 week high of $187.27. The company’s 50 day simple moving average is $167.51 and its 200 day simple moving average is $165.84. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.64 EPS. Equities analysts expect that Nexstar Media Group will post 25.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total value of $1,061,374.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock worth $6,887,029 over the last quarter. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after buying an additional 127,783 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after acquiring an additional 62,331 shares during the period. Capital Research Global Investors bought a new position in Nexstar Media Group in the first quarter valued at about $92,323,000. Point72 Asset Management L.P. increased its position in Nexstar Media Group by 392.6% in the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after purchasing an additional 358,920 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Nexstar Media Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.