Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $259.67 Consensus Target Price from Analysts

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned an average recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $259.6667.

A number of equities research analysts recently weighed in on NXST shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Wells Fargo & Company cut their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their target price for the company from $252.00 to $220.00 in a report on Friday, April 10th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Barrington Research restated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $180.00, for a total value of $180,000.00. Following the transaction, the director directly owned 5,658 shares of the company’s stock, valued at $1,018,440. The trade was a 15.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sean Compton sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the sale, the insider owned 11,252 shares of the company’s stock, valued at approximately $2,205,392. This trade represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 22,813 shares of company stock valued at $4,174,731. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Torren Management LLC purchased a new stake in Nexstar Media Group during the 4th quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $28,000. WPG Advisers LLC grew its stake in shares of Nexstar Media Group by 65.7% in the 4th 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 last quarter. Danske Bank A S acquired a new position in shares of Nexstar Media Group in the third quarter valued at approximately $59,000. Finally, State of Wyoming acquired a new position in shares of Nexstar Media Group in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST opened at $181.09 on Tuesday. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91. Nexstar Media Group has a 52-week low of $154.47 and a 52-week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a 50 day moving average price of $184.58 and a 200 day moving average price of $204.60.

Nexstar Media Group Dividend Announcement

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

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.