Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Nexstar Media Group has a consensus analyst rating of “Moderate Buy”, based on coverage from eight analysts: six Buy ratings and two Hold ratings. The average 12-month price target is about $259.67.
• Several firms recently revised their views on the stock, with both upgrades and downgrades, including target cuts from Wells Fargo and Citigroup. This suggests analyst sentiment remains positive overall, but somewhat mixed in the near term.
• Shares recently traded at $183.31, while the company also paid a quarterly dividend of $1.86 per share, equal to a 4.1% yield. CEO Perry A. Sook also bought more shares recently, signaling insider confidence.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $259.6667.

Several brokerages recently issued reports on NXST. Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Zacks Research lowered shares of Nexstar Media Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Wells Fargo & Company lowered 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 report on Friday, May 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Finally, Citigroup upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and cut their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $183.31 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a market capitalization of $5.60 billion, a P/E ratio of 39.34, a P/E/G ratio of 0.48 and a beta of 0.91. The business has a fifty day simple moving average of $178.48 and a two-hundred day simple moving average of $202.15. Nexstar Media Group has a 12 month low of $154.47 and a 12 month high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group's payout ratio is 159.66%.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook purchased 12,235 shares of the stock in a transaction dated Friday, June 26th. The stock was purchased at an average price of $162.26 per share, with a total value of $1,985,251.10. Following the transaction, the chief executive officer directly owned 899,044 shares in the company, valued at $145,878,879.44. This trade represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brett Jenkins sold 301 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total transaction of $51,413.81. Following the completion of the transaction, the insider owned 28,798 shares in the company, valued at approximately $4,918,986.38. The trade was a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 22,813 shares of company stock valued at $4,174,731. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Merit Financial Group LLC increased its stake in shares of Nexstar Media Group by 1.6% during 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 in the last quarter. Truist Financial Corp grew its holdings in Nexstar Media Group by 5.2% in the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company's stock valued at $231,000 after buying an additional 56 shares in the last quarter. WPG Advisers LLC grew its holdings in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company's stock valued at $36,000 after purchasing an additional 71 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Nexstar Media Group by 15.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company's stock worth $102,000 after buying an additional 80 shares during the last quarter. Finally, Trust Point Inc. increased 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 worth $447,000 after acquiring an additional 87 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Nexstar Media Group

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.

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