Nexstar Media Group (NASDAQ:NXST) Upgraded to “Buy” at Loop Capital

Loop Capital upgraded shares of Nexstar Media Group (NASDAQ:NXST) from a hold rating to a buy rating in a research note released on Friday morning, Marketbeat reports. Loop Capital currently has $200.00 price target on the stock, up from their prior price target of $190.00.

A number of other equities research analysts also recently weighed in on NXST. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday. Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nexstar Media Group has an average rating of “Buy” and an average target price of $210.29.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $169.15 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group has a fifty-two week low of $146.04 and a fifty-two week high of $191.86. The firm has a 50-day simple moving average of $155.08 and a 200 day simple moving average of $163.29. The company has a market cap of $5.25 billion, a PE ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts anticipate that Nexstar Media Group will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is currently 43.03%.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 52,808 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernadette S. Aulestia sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total transaction of $82,225.00. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $328,900. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 127,493 shares of company stock valued at $20,354,366. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after buying an additional 68 shares during the period. Jones Financial Companies Lllp increased its stake in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after buying an additional 73 shares during the period. Mariner LLC increased its stake in Nexstar Media Group by 5.3% in the 4th quarter. Mariner LLC now owns 2,300 shares of the company’s stock valued at $363,000 after buying an additional 115 shares during the period. Natixis Advisors LLC increased its stake in Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after buying an additional 117 shares during the period. Finally, Focus Partners Wealth increased its stake in Nexstar Media Group by 7.3% in the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock valued at $273,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.