Nexstar Media Group (NASDAQ:NXST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.

According to Zacks, “Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to television stations in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX and UPN. “

NXST has been the subject of several other reports. Noble Financial cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Wolfe Research assumed coverage on Nexstar Media Group in a report on Friday. They issued an “outperform” rating for the company. B. Riley raised their price target on Nexstar Media Group from $87.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Benchmark reissued a “buy” rating and issued a $115.00 price target (up from $96.00) on shares of Nexstar Media Group in a report on Tuesday. Finally, BidaskClub cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $95.80.

NXST opened at $85.30 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $3.89 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.01 and a beta of 1.75. Nexstar Media Group has a 12 month low of $60.30 and a 12 month high of $89.75.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 8th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.97 by $0.15. The business had revenue of $693.00 million during the quarter, compared to analysts’ expectations of $676.34 million. Nexstar Media Group had a return on equity of 19.12% and a net margin of 23.45%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. As a group, research analysts forecast that Nexstar Media Group will post 8.41 EPS for the current fiscal year.

In related news, Director Lisbeth Mcnabb sold 1,400 shares of Nexstar Media Group stock in a transaction on Friday, September 14th. The stock was sold at an average price of $80.70, for a total transaction of $112,980.00. Following the completion of the transaction, the director now directly owns 1,725 shares of the company’s stock, valued at $139,207.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith P. Hopkins sold 1,625 shares of Nexstar Media Group stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $80.35, for a total value of $130,568.75. Following the transaction, the senior vice president now directly owns 3,125 shares of the company’s stock, valued at $251,093.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,925 shares of company stock valued at $1,954,553. 6.40% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of NXST. Principal Financial Group Inc. raised its holdings in Nexstar Media Group by 8.6% during the first quarter. Principal Financial Group Inc. now owns 187,216 shares of the company’s stock worth $12,450,000 after purchasing an additional 14,866 shares during the last quarter. Aperio Group LLC increased its position in Nexstar Media Group by 42.3% during the second quarter. Aperio Group LLC now owns 9,379 shares of the company’s stock worth $688,000 after buying an additional 2,789 shares in the last quarter. Alps Advisors Inc. increased its position in Nexstar Media Group by 17.1% during the second quarter. Alps Advisors Inc. now owns 8,001 shares of the company’s stock worth $626,000 after buying an additional 1,168 shares in the last quarter. Sei Investments Co. increased its position in Nexstar Media Group by 20.7% during the second quarter. Sei Investments Co. now owns 19,383 shares of the company’s stock worth $1,422,000 after buying an additional 3,330 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Nexstar Media Group by 4.6% during the second quarter. Rhumbline Advisers now owns 44,097 shares of the company’s stock worth $3,237,000 after buying an additional 1,952 shares in the last quarter.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.

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