Nexstar Media Group, Inc. (NASDAQ:NXST) Short Interest Update

Nexstar Media Group, Inc. (NASDAQ:NXST) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 1,806,510 shares, a decline of 17.8% from the February 12th total of 2,199,003 shares. Approximately 6.4% of the company’s shares are short sold. Based on an average daily trading volume, of 320,731 shares, the days-to-cover ratio is presently 5.6 days. Based on an average daily trading volume, of 320,731 shares, the days-to-cover ratio is presently 5.6 days. Approximately 6.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Citigroup boosted their price objective on shares of Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Guggenheim lifted their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Barrington Research reissued an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $278.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NXST. CWA Asset Management Group LLC raised its holdings in shares of Nexstar Media Group by 1.7% during the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock worth $630,000 after acquiring an additional 51 shares during the period. Claret Asset Management Corp boosted its stake in Nexstar Media Group by 4.1% in the 2nd quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after purchasing an additional 53 shares during the period. Merit Financial Group LLC boosted its stake in Nexstar Media Group by 1.6% in the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after purchasing an additional 56 shares during the period. Truist Financial Corp increased its holdings in Nexstar Media Group by 5.2% during the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after purchasing an additional 56 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in Nexstar Media Group by 0.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 1.2%

Shares of NASDAQ:NXST traded up $2.91 during trading on Monday, hitting $236.52. 272,118 shares of the company’s stock traded hands, compared to its average volume of 303,736. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The company has a 50-day moving average price of $226.39 and a 200-day moving average price of $207.83. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $254.30. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 80.45, a price-to-earnings-growth ratio of 0.92 and a beta of 0.79.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a yield of 3.1%. Nexstar Media Group’s payout ratio is presently 253.06%.

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.