Nexstar Media Group (NASDAQ:NXST) Stock Price Down 8.8% - What's Next?

Key Points

• Nexstar shares plunged 8.8% on Monday to about $194 (session low $192.35) from a $213.13 close, on unusually light volume of 83,349 shares (down 78% vs. average).
• Wall Street remains largely positive—five Buy and three Hold ratings—giving a consensus Moderate Buy with an average price target of $282 after multiple firms raised targets into the $270–$300 range.
• The company pays a ~4.0% yield ($1.86 quarterly, $7.44 annualized) but has a very high dividend payout ratio (253%) and significant leverage (debt/equity 3.05), which could pose sustainability risks despite 95.3% institutional ownership.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) traded down 8.8% during trading on Monday . The stock traded as low as $192.35 and last traded at $194.42. 83,349 shares changed hands during trading, a decline of 78% from the average session volume of 372,207 shares. The stock had previously closed at $213.13.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NXST. Weiss Ratings reiterated a "hold (c+)" rating on shares of Nexstar Media Group in a report on Monday, December 29th. Guggenheim raised their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Wells Fargo & Company boosted their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft increased their price target on Nexstar Media Group from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Finally, Benchmark raised their price objective on Nexstar Media Group from $250.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and an average price target of $282.00.

Nexstar Media Group Stock Performance

The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 63.00, a P/E/G ratio of 0.84 and a beta of 0.79. The company's fifty day simple moving average is $228.95 and its two-hundred day simple moving average is $209.08. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 2.07.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 annualized dividend and a yield of 4.0%. Nexstar Media Group's dividend payout ratio (DPR) is presently 253.06%.

Institutional Trading of Nexstar Media Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Nexstar Media Group in the first quarter worth approximately $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nexstar Media Group by 49.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company's stock valued at $2,844,000 after buying an additional 5,251 shares during the last quarter. Millennium Management LLC boosted its position in shares of Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company's stock valued at $13,020,000 after buying an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company's stock worth $23,802,000 after buying an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Nexstar Media Group during the first quarter worth $654,000. 95.30% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.