Nexstar Media Group (NASDAQ:NXST) Stock Breaks Above 200 Day Moving Average – Here’s Why

Nexstar Media Group, Inc. (NASDAQ:NXST) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $191.70 and traded as high as $202.66. Nexstar Media Group shares last traded at $201.23, with a volume of 577,334 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Deutsche Bank dropped their price objective on Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Weiss Ratings upgraded Nexstar Media Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Wells Fargo & Company lifted their target price on Nexstar Media Group from $249.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Finally, Citigroup upped their target price on Nexstar Media Group from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $257.50.

Nexstar Media Group Price Performance

The stock has a fifty day moving average price of $169.29 and a 200-day moving average price of $191.62. The firm has a market capitalization of $6.46 billion, a PE ratio of 19.08 and a beta of 0.97. The company has a debt-to-equity ratio of 4.43, a quick ratio of 1.26 and a current ratio of 1.26.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 5th. The company reported $7.92 EPS for the quarter, missing the consensus estimate of $8.08 by ($0.16). Nexstar Media Group had a return on equity of 32.25% and a net margin of 5.48%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $2.14 earnings per share. The company’s revenue was up 78.0% on a year-over-year basis. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 33.33 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $1.86 dividend. The ex-dividend date is Friday, November 13th. This represents a $7.44 dividend on an annualized basis and a yield of 3.5%. Nexstar Media Group’s payout ratio is currently 67.70%.

Insider Activity

In other news, Director Bernadette S. Aulestia sold 300 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $186.80, for a total value of $56,040.00. Following the sale, the director directly owned 4,383 shares in the company, valued at approximately $818,744.40. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Alford sold 2,823 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $165.69, for a total transaction of $467,742.87. Following the transaction, the insider owned 11,726 shares of the company’s stock, valued at approximately $1,942,880.94. This trade represents a 19.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 9,596 shares of company stock valued at $1,733,169. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new stake in shares of Nexstar Media Group in the 3rd quarter worth $47,578,000. Boston Partners increased its position in Nexstar Media Group by 480.4% during the 3rd quarter. Boston Partners now owns 174,435 shares of the company’s stock valued at $28,109,000 after buying an additional 144,382 shares in the last quarter. Epoch Investment Partners Inc. increased its position in Nexstar Media Group by 685.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 92,817 shares of the company’s stock valued at $16,784,000 after buying an additional 81,005 shares in the last quarter. Foster & Motley Inc. acquired a new position in Nexstar Media Group during the 2nd quarter valued at about $8,529,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Nexstar Media Group in the third quarter valued at about $4,459,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Company Profile

Nexstar Media Group is a U.S. media company focused on local television broadcasting and national programming. It owns and operates local television stations across the country, many affiliated with major broadcast networks, and produces local news, sports, and other programming for viewers in their communities. The company also operates NewsNation, a national news and entertainment network, and holds a majority interest in The CW. Its digital businesses distribute news and other content online, while advertising and fees for carrying its stations and networks are among its business activities.