Nexstar Media Group (NASDAQ:NXST) Stock Rating Lowered by Wall Street Zen

Nexstar Media Group (NASDAQ:NXST) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

A number of other equities analysts have also recently commented on NXST. Wells Fargo & Company decreased their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Benchmark dropped their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, Barrington Research restated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $259.67.

Nexstar Media Group Trading Down 1.5%

Shares of NXST traded down $2.59 during trading hours on Friday, hitting $174.05. The company had a trading volume of 186,032 shares, compared to its average volume of 492,973. Nexstar Media Group has a 52-week low of $154.47 and a 52-week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock’s 50 day moving average price is $181.96 and its 200 day moving average price is $203.69. The firm has a market cap of $5.32 billion, a P/E ratio of 37.35, a P/E/G ratio of 0.44 and a beta of 0.91.

Insider Activity

In related news, insider Sean Compton sold 5,000 shares of Nexstar Media Group stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total value of $980,000.00. Following the sale, the insider owned 11,252 shares in the company, valued at $2,205,392. The trade was a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dana Zimmer sold 915 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $161,424.30. Following the transaction, the insider directly owned 5,738 shares in the company, valued at approximately $1,012,297.96. The trade was a 13.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 22,813 shares of company stock valued at $4,174,731. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Nexstar Media Group

A number of large investors have recently modified their holdings of the stock. Torren Management LLC purchased a new position in shares of Nexstar Media Group during the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group in the third quarter worth about $28,000. WPG Advisers LLC boosted its position in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares in the last quarter. Danske Bank A S bought a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $59,000. Finally, State of Wyoming purchased a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $54,000. Institutional investors own 95.30% of the company’s stock.

About Nexstar Media Group

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.