Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $259.67 Consensus PT from Analysts

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $259.6667.

NXST has been the subject of a number of recent analyst reports. Benchmark decreased their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their target price for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Wells Fargo & Company decreased their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th.

Insider Transactions at Nexstar Media Group

In other news, insider Sean Compton sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 11,252 shares of the company’s stock, valued at approximately $2,205,392. This represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Biard sold 1,227 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $174.21, for a total transaction of $213,755.67. Following the completion of the transaction, the chief operating officer owned 17,105 shares of the company’s stock, valued at $2,979,862.05. This trade represents a 6.69% 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. Insiders have sold a total of 22,813 shares of company stock worth $4,174,731 over the last ninety days. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXST. Merit Financial Group LLC lifted its position in Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after purchasing an additional 56 shares during the period. Truist Financial Corp increased its position in shares of Nexstar Media Group by 5.2% during the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock valued at $231,000 after purchasing an additional 56 shares during the period. WPG Advisers LLC raised its stake 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 worth $36,000 after buying an additional 71 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Nexstar Media Group by 15.7% in the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after buying an additional 80 shares during the period. Finally, Trust Point Inc. boosted its stake in Nexstar Media Group by 4.1% during the fourth quarter. Trust Point Inc. now owns 2,199 shares of the company’s stock valued at $447,000 after buying an additional 87 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $185.80 on Friday. The firm’s 50 day moving average is $178.27 and its two-hundred day moving average is $201.94. Nexstar Media Group has a 52 week low of $154.47 and a 52 week high of $254.30. The firm has a market capitalization of $5.67 billion, a P/E ratio of 39.87, a PEG ratio of 0.49 and a beta of 0.91. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

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.