Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $193.83 Average Target Price from Brokerages

Nexstar Media Group, Inc. (NASDAQ:NXST) has earned an average rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $193.83.

Several equities analysts recently commented on NXST shares. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, March 7th. Finally, Rosenblatt Securities reduced their price target on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sean Compton sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $162.61, for a total value of $487,830.00. Following the completion of the transaction, the insider now directly owns 9,489 shares in the company, valued at $1,543,006.29. The disclosure for this sale can be found here. Insiders have sold a total of 46,508 shares of company stock valued at $7,487,950 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently made changes to their positions in the company. Glassy Mountain Advisors Inc. increased its holdings in shares of Nexstar Media Group by 3.6% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 18,505 shares of the company’s stock valued at $3,188,000 after acquiring an additional 651 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Nexstar Media Group by 2.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the company’s stock valued at $1,602,000 after acquiring an additional 200 shares during the last quarter. Herbst Group LLC bought a new stake in shares of Nexstar Media Group in the 1st quarter valued at approximately $207,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Nexstar Media Group by 4.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,002 shares of the company’s stock valued at $2,240,000 after acquiring an additional 517 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Nexstar Media Group by 2.6% in the 1st quarter. Raymond James & Associates now owns 36,936 shares of the company’s stock valued at $6,364,000 after acquiring an additional 938 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Down 1.9 %

Shares of NASDAQ:NXST opened at $160.98 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. Nexstar Media Group has a 1 year low of $132.30 and a 1 year high of $187.32. The stock has a market capitalization of $5.38 billion, a P/E ratio of 16.72, a PEG ratio of 0.61 and a beta of 1.50. The stock has a 50-day simple moving average of $165.53 and a 200-day simple moving average of $158.95.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $4.42 by ($1.10). The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The business’s revenue was down 12.3% on a year-over-year basis. During the same period last year, the firm posted $8.04 earnings per share. Equities analysts forecast that Nexstar Media Group will post 26.73 earnings per share for the current year.

Nexstar Media Group Company Profile

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.