Nexstar Media Group (NASDAQ:NXST) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Nexstar Media Group (NASDAQ:NXST) from a hold rating to a buy rating in a research report released on Monday.

NXST has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on Nexstar Media Group from $221.00 to $209.00 and set an overweight rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a buy rating on the stock in a research report on Friday, August 9th. Barrington Research restated an outperform rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, Benchmark reissued a buy rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $201.67.

Nexstar Media Group Stock Up 0.8 %

Shares of NASDAQ NXST opened at $162.76 on Monday. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.18 and a beta of 1.50. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group has a 12 month low of $132.30 and a 12 month high of $187.27. The stock has a 50-day moving average price of $170.38 and a two-hundred day moving average price of $165.65.

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

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.15%. Nexstar Media Group’s payout ratio is 57.19%.

Insider Buying and Selling at Nexstar Media Group

In other news, EVP Blake Russell sold 523 shares of Nexstar Media Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total value of $77,968.84. Following the completion of the transaction, the executive vice president now directly owns 27,111 shares of the company’s stock, valued at approximately $4,041,707.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Blake Russell sold 523 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $149.08, for a total transaction of $77,968.84. Following the completion of the sale, the executive vice president now owns 27,111 shares of the company’s stock, valued at approximately $4,041,707.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rachel Morgan sold 6,196 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,911 shares of company stock valued at $2,939,762. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Delphi Management Inc. MA raised its position in shares of Nexstar Media Group by 2.9% during the second quarter. Delphi Management Inc. MA now owns 10,227 shares of the company’s stock worth $1,698,000 after purchasing an additional 286 shares during the period. Founders Financial Alliance LLC raised its holdings in Nexstar Media Group by 21.5% during the second quarter. Founders Financial Alliance LLC now owns 2,950 shares of the company’s stock worth $490,000 after buying an additional 522 shares during the last quarter. Truist Financial Corp raised its holdings in Nexstar Media Group by 5.2% during the second quarter. Truist Financial Corp now owns 9,733 shares of the company’s stock worth $1,616,000 after buying an additional 482 shares during the last quarter. Quarry LP lifted its stake in shares of Nexstar Media Group by 77.8% in the second quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after buying an additional 130 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of Nexstar Media Group by 38.7% during the second quarter. Sunbelt Securities Inc. now owns 785 shares of the company’s stock valued at $130,000 after buying an additional 219 shares during the last quarter. 95.30% of the stock is 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.