Nexstar Media Group (NASDAQ:NXST) Stock Bumped Up to Hold by Zacks Research

Nexstar Media Group (NASDAQ:NXST - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other equities research analysts also recently issued reports on NXST. Wells Fargo & Company raised their price objective on shares of Nexstar Media Group from $249.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, November 6th. Weiss Ratings raised Nexstar Media Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Citigroup increased their target price on Nexstar Media Group from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday. Deutsche Bank dropped their price target on Nexstar Media Group from $255.00 to $240.00 and set a "buy" rating for the company in a report on Monday, August 10th. Finally, Wall Street Zen upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Saturday, November 7th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $257.50.

Nexstar Media Group Trading Up 1.5%

Shares of Nexstar Media Group stock opened at $209.74 on Tuesday. The company has a debt-to-equity ratio of 4.43, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day simple moving average of $169.29 and a two-hundred day simple moving average of $191.62. Nexstar Media Group has a 1 year low of $153.17 and a 1 year high of $254.30. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 19.08 and a beta of 0.97.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $7.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The business's quarterly revenue was up 78.0% compared to the same quarter last year. Research analysts forecast that Nexstar Media Group will post 33.33 EPS for the current year.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, COO Michael Biard sold 2,465 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $185.82, for a total transaction of $458,046.30. Following the transaction, the chief operating officer owned 20,890 shares in the company, valued at $3,881,779.80. This represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 4,008 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $187.46, for a total transaction of $751,339.68. Following the transaction, the insider directly owned 1,792 shares in the company, valued at $335,928.32. This represents a 69.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 9,596 shares of company stock worth $1,733,169. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of Nexstar Media Group

Several large investors have recently modified their holdings of NXST. Heritage Family Offices LLP acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $37,000. Covestor Ltd raised its position in Nexstar Media Group by 130.2% during the third quarter. Covestor Ltd now owns 297 shares of the company's stock valued at $48,000 after purchasing an additional 168 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Nexstar Media Group by 139.2% during the third quarter. SBI Securities Co. Ltd. now owns 378 shares of the company's stock valued at $61,000 after purchasing an additional 220 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Nexstar Media Group during the second quarter valued at approximately $63,000. Finally, Allworth Financial LP lifted its stake in Nexstar Media Group by 35.8% during the second quarter. Allworth Financial LP now owns 360 shares of the company's stock worth $64,000 after purchasing an additional 95 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

About Nexstar Media Group

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.

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