Nexstar Media Group, Inc. (NASDAQ:NXST) Given Average Rating of “Moderate Buy” by Analysts

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $204.29.

Several brokerages recently issued reports on NXST. Benchmark reiterated a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th.

Insider Activity

In other news, CEO Perry A. Sook sold 35,205 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. This represents a 4.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Muse sold 2,385 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $170.16, for a total transaction of $405,831.60. Following the completion of the transaction, the director now directly owns 25,978 shares of the company’s stock, valued at approximately $4,420,416.48. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,209 shares of company stock valued at $21,499,239. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in Nexstar Media Group by 67.8% in the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock worth $4,339,000 after buying an additional 10,603 shares in the last quarter. SGL Investment Advisors Inc. bought a new position in Nexstar Media Group in the third quarter worth about $3,758,000. Charles Schwab Investment Management Inc. raised its stake in Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock worth $179,149,000 after buying an additional 7,117 shares in the last quarter. Quest Partners LLC increased its stake in shares of Nexstar Media Group by 661.4% during the third quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after purchasing an additional 7,533 shares in the last quarter. Finally, Holocene Advisors LP increased its stake in shares of Nexstar Media Group by 680.9% during the third quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock valued at $2,847,000 after purchasing an additional 15,014 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Stock Down 0.1 %

Shares of NASDAQ:NXST opened at $154.34 on Friday. Nexstar Media Group has a 52-week low of $147.25 and a 52-week high of $191.86. The firm has a fifty day moving average of $156.23 and a 200 day moving average of $163.88. The firm has a market capitalization of $4.79 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.44 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.82%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend is Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is 43.03%.

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.