StockNews.com Downgrades Nexstar Media Group (NASDAQ:NXST) to Hold

Nexstar Media Group (NASDAQ:NXST) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other analysts have also issued reports on the stock. 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. Benchmark reaffirmed a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Wells Fargo & Company dropped 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 research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus price target of $201.14.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $164.25 on Friday. The company’s fifty day simple moving average is $167.12 and its 200-day simple moving average is $165.89. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The firm has a market cap of $5.41 billion, a PE ratio of 13.90, a P/E/G ratio of 0.19 and a beta of 1.49. Nexstar Media Group has a 12 month low of $132.30 and a 12 month high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The business had revenue of $1.27 billion during 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 for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.64 EPS. Equities research analysts expect that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the transaction, the insider now directly owns 10,684 shares in the company, valued at $1,715,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the transaction, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at $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 have sold a total of 41,112 shares of company stock worth $6,887,029 over the last ninety days. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors acquired a new stake in Nexstar Media Group during the first quarter worth about $92,323,000. Point72 Asset Management L.P. grew its stake in Nexstar Media Group by 392.6% during the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after buying an additional 358,920 shares in the last quarter. Vanguard Group Inc. grew its stake in Nexstar Media Group by 3.9% during the first 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. Payden & Rygel Investment Group acquired a new stake in Nexstar Media Group during the first quarter worth about $15,144,000. Finally, Global Assets Advisory LLC acquired a new stake in Nexstar Media Group during the first quarter worth about $14,421,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.