Nexstar Media Group, Inc. (NASDAQ:NXST) Short Interest Down 18.4% in March

Nexstar Media Group, Inc. (NASDAQ:NXST) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 1,474,804 shares, a decline of 18.4% from the March 15th total of 1,807,496 shares. Based on an average trading volume of 579,552 shares, the short-interest ratio is presently 2.5 days. Currently, 5.2% of the company’s shares are short sold.

Institutional Trading of Nexstar Media Group

Hedge funds have recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Nexstar Media Group during the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $28,000. Root Financial Partners LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $31,000. WPG Advisers LLC raised its position in shares of Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Up 1.7%

Shares of NXST stock traded up $3.38 during mid-day trading on Friday, hitting $200.78. 407,047 shares of the stock traded hands, compared to its average volume of 558,980. The stock has a market cap of $6.09 billion, a P/E ratio of 68.29, a P/E/G ratio of 0.78 and a beta of 0.93. The stock’s fifty day moving average is $221.14 and its two-hundred day moving average is $207.30. Nexstar Media Group has a 52-week low of $141.66 and a 52-week high of $254.30. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 2.07.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, February 13th. Nexstar Media Group’s dividend payout ratio is presently 253.06%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NXST shares. Benchmark cut their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Barrington Research restated an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, March 3rd. Wells Fargo & Company upped their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nexstar Media Group from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $268.33.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.