Nexstar Media Group (NASDAQ:NXST) Given New $252.00 Price Target at Citigroup

Nexstar Media Group (NASDAQ:NXST) had its price target increased by stock analysts at Citigroup from $204.00 to $252.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 1.61% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft lifted their target price on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Benchmark increased their price target on Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday. Guggenheim lifted their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.14.

Nexstar Media Group Trading Down 1.2%

NXST stock traded down $3.01 during trading on Monday, hitting $248.02. The company had a trading volume of 115,607 shares, compared to its average volume of 353,224. The firm has a market capitalization of $7.52 billion, a P/E ratio of 84.36, a PEG ratio of 0.98 and a beta of 0.85. Nexstar Media Group has a 52-week low of $141.66 and a 52-week high of $254.30. The company has a 50 day simple moving average of $217.69 and a 200-day simple moving average of $204.88. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76.

Hedge Funds Weigh In On Nexstar Media Group

A number of large investors have recently made changes to their positions in NXST. Integrated Wealth Concepts LLC purchased a new position in shares of Nexstar Media Group in the first quarter worth $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nexstar Media Group by 49.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after acquiring an additional 5,251 shares during the period. Millennium Management LLC raised its stake in Nexstar Media Group by 571.4% in the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after acquiring an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Nexstar Media Group by 14.3% during the 1st 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 acquiring an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Nexstar Media Group during the 1st quarter worth about $654,000. 95.30% of the stock is owned by institutional investors and hedge funds.

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.