Nexstar Media Group (NASDAQ:NXST) Stock Rating Upgraded by Loop Capital

Nexstar Media Group (NASDAQ:NXST) was upgraded by Loop Capital from a “hold” rating to a “buy” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage presently has a $200.00 price target on the stock. Loop Capital’s price objective indicates a potential upside of 23.02% from the stock’s previous close.

Several other brokerages also recently commented on NXST. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $205.71.

Nexstar Media Group Stock Up 11.1 %

Shares of NXST stock opened at $162.58 on Friday. The company has a 50 day simple moving average of $155.08 and a two-hundred day simple moving average of $163.29. The stock has a market cap of $5.04 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.45 and a beta of 1.45. Nexstar Media Group has a 12 month low of $146.04 and a 12 month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, research analysts expect that Nexstar Media Group will post 21.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Bernadette S. Aulestia sold 500 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total transaction of $82,225.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $328,900. The trade was a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Thomas Mcmillen sold 750 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the sale, the director now owns 6,975 shares in the company, valued at approximately $1,115,511.75. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,493 shares of company stock worth $20,354,366 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Nexstar Media Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning boosted its position in Nexstar Media Group by 43.8% in the 3rd quarter. Creative Planning now owns 6,925 shares of the company’s stock worth $1,145,000 after purchasing an additional 2,108 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Nexstar Media Group by 43.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,419 shares of the company’s stock worth $1,061,000 after purchasing an additional 1,951 shares in the last quarter. Integrated Advisors Network LLC acquired a new stake in Nexstar Media Group in the third quarter valued at approximately $220,000. New York State Common Retirement Fund raised its stake in shares of Nexstar Media Group by 6.1% during the 3rd quarter. New York State Common Retirement Fund now owns 189,673 shares of the company’s stock worth $31,362,000 after buying an additional 10,938 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Nexstar Media Group by 137.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,373 shares of the company’s stock worth $723,000 after acquiring an additional 2,533 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.