Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Average Rating of “Buy” from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have earned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $259.6667.

Several research firms have recently issued reports on NXST. Wells Fargo & Company reduced their target price on shares of 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. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Guggenheim upped their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Barrington Research reiterated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Finally, Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $252.00 to $220.00 in a research note on Friday, April 10th.

Nexstar Media Group News Summary

Here are the key news stories impacting Nexstar Media Group this week:

• Neutral Sentiment: Director Charles Thomas McMillen sold 1,000 shares, and the filing says the transaction was for tax withholding related to equity award vesting. Nexstar Media Group insider filing
• Neutral Sentiment: Multiple other insiders also sold shares at the same $176.42 price level, including Andrew Alford, Sean Compton, Dana Zimmer, Lee Ann Gliha, and Blake Russell, all citing tax-withholding obligations. Nexstar Media Group insider filing
• Neutral Sentiment: Recent reporting also highlighted that NXST has fallen over the past month and remains below key moving averages, signaling continued technical weakness. Nexstar Media Group stock down article
• Neutral Sentiment: The company’s dividend yield remains attractive, but the payout ratio is elevated, which may limit enthusiasm among income-focused investors. Nexstar Media Group stock page

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $174.52 on Friday. The firm has a market capitalization of $5.33 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91. The firm has a fifty day simple moving average of $191.24 and a two-hundred day simple moving average of $207.36. 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 has a 12 month low of $164.00 and a 12 month high of $254.30.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.3%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Insider Transactions at Nexstar Media Group

In other news, EVP Blake Russell sold 239 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $42,164.38. Following the completion of the sale, the executive vice president owned 27,901 shares in the company, valued at $4,922,294.42. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 915 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $161,424.30. Following the completion of the transaction, the insider directly owned 5,738 shares in the company, valued at $1,012,297.96. This trade represents 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. Over the last 90 days, insiders have sold 17,641 shares of company stock worth $3,286,471. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of Nexstar Media Group by 7,750.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,028 shares of the company’s stock worth $1,633,000 after buying an additional 8,913 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Nexstar Media Group in the 1st quarter worth about $1,229,000. Bank of America Corp DE boosted its holdings in shares of Nexstar Media Group by 17.0% in the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after buying an additional 25,193 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Nexstar Media Group by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after buying an additional 11,477 shares during the last quarter. Finally, Strategic Investment Advisors MI purchased a new position in shares of Nexstar Media Group in the 1st quarter worth about $154,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.