Nexstar Media Group (NASDAQ:NXST) Price Target Cut to $215.00

Nexstar Media Group (NASDAQ:NXST) had its price target lowered by research analysts at Benchmark from $225.00 to $215.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 28.36% from the stock’s current price.

NXST has been the subject of several other research reports. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Guggenheim lowered their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased 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 report on Friday, August 9th. Finally, Wells Fargo & Company decreased their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

Nexstar Media Group Trading Down 0.6 %

Shares of NASDAQ NXST opened at $167.50 on Monday. The company’s 50 day simple moving average is $165.44 and its 200 day simple moving average is $165.74. Nexstar Media Group has a fifty-two week low of $133.55 and a fifty-two week high of $187.27. The firm has a market capitalization of $5.52 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.19 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data 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). 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 the consensus estimate of $1.28 billion. During the same period in the prior year, the company earned $2.64 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Nexstar Media Group will post 25.72 EPS for the current year.

Insider Buying and Selling

In other Nexstar Media Group news, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the transaction, the director now directly owns 54,625 shares in the company, valued at $9,324,487.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Nexstar Media Group news, Director Jay M. Grossman sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the sale, the director now owns 54,625 shares in the company, valued at $9,324,487.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 transaction, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,112 shares of company stock worth $6,887,029. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXST. Vanguard Group Inc. raised its holdings in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Nexstar Media Group by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after purchasing an additional 62,331 shares during the period. Capital Research Global Investors acquired a new stake in shares of Nexstar Media Group in the 1st quarter valued at about $92,323,000. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 2,145 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Nexstar Media Group by 2.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 278,714 shares of the company’s stock worth $43,688,000 after acquiring an additional 7,514 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.