Nexstar Media Group (NASDAQ:NXST) Given Buy Rating at Benchmark

Nexstar Media Group (NASDAQ:NXST - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports. They currently have a $225.00 price target on the stock. Benchmark's price objective points to a potential upside of 30.59% from the stock's current price.

NXST has been the subject of a number of other reports. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday. Rosenblatt Securities lowered their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a "buy" rating on the stock in a report on Wednesday, March 13th. Finally, TheStreet raised Nexstar Media Group from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $198.29.

Nexstar Media Group Stock Performance

NXST stock traded down $5.64 during trading hours on Friday, reaching $172.30. The stock had a trading volume of 341,557 shares, compared to its average volume of 338,061. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a 50-day simple moving average of $164.90 and a 200 day simple moving average of $160.59. The stock has a market capitalization of $5.68 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 0.62 and a beta of 1.50. Nexstar Media Group has a fifty-two week low of $132.30 and a fifty-two week high of $187.32.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company earned $2.97 earnings per share. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that Nexstar Media Group will post 26.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 1,475 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $166.00, for a total value of $244,850.00. Following the completion of the transaction, the director now owns 4,525 shares of the company's stock, valued at $751,150. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the transaction, the director now directly owns 4,525 shares of the company's stock, valued at $751,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the company's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the sale, the director now owns 12,027 shares of the company's stock, valued at $2,054,452.14. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock valued at $7,487,950 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NXST. EverSource Wealth Advisors LLC increased its position in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company's stock worth $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust acquired a new position in shares of Nexstar Media Group during the fourth quarter worth $33,000. SRS Capital Advisors Inc. lifted its stake in shares of Nexstar Media Group by 350.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company's stock valued at $37,000 after acquiring an additional 186 shares during the last quarter. OLD Second National Bank of Aurora bought a new stake in Nexstar Media Group during the 4th quarter worth $45,000. Finally, Quadrant Capital Group LLC increased its holdings in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company's stock worth $46,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.

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