Nexstar Media Group (NXST) Lowered to Hold at BidaskClub

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Nexstar Media Group (NASDAQ:NXST) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other research analysts have also issued reports about the stock. ValuEngine raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Barrington Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Nexstar Media Group in a research note on Wednesday, May 9th. Evercore ISI assumed coverage on shares of Nexstar Media Group in a research note on Tuesday, July 31st. They issued an “in-line” rating and a $87.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $87.00 price target on shares of Nexstar Media Group in a research note on Tuesday, July 24th. Finally, Stephens set a $94.00 price target on shares of Nexstar Media Group and gave the company a “buy” rating in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Nexstar Media Group currently has an average rating of “Buy” and an average target price of $89.67.

Shares of Nexstar Media Group stock opened at $80.65 on Thursday. The stock has a market capitalization of $3.75 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.69 and a beta of 1.88. Nexstar Media Group has a twelve month low of $56.65 and a twelve month high of $89.75. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.43 and a current ratio of 2.43.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $1.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.14. The firm had revenue of $660.30 million for the quarter, compared to analyst estimates of $657.92 million. Nexstar Media Group had a net margin of 22.07% and a return on equity of 17.28%. Nexstar Media Group’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.91 EPS. sell-side analysts forecast that Nexstar Media Group will post 8.09 EPS for the current year.

In other Nexstar Media Group news, insider Andrew Alford sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $82.30, for a total value of $82,300.00. Following the transaction, the insider now directly owns 370 shares of the company’s stock, valued at approximately $30,451. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Davis sold 1,875 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $77.41, for a total transaction of $145,143.75. Following the completion of the transaction, the insider now directly owns 683 shares in the company, valued at $52,871.03. The disclosure for this sale can be found here. Insiders sold a total of 7,501 shares of company stock worth $567,782 over the last three months. Corporate insiders own 6.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Nexstar Media Group by 64.8% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,423 shares of the company’s stock worth $178,000 after buying an additional 953 shares during the last quarter. Fortaleza Asset Management Inc. increased its holdings in shares of Nexstar Media Group by 148.0% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 2,815 shares of the company’s stock worth $207,000 after buying an additional 1,680 shares during the last quarter. Zeke Capital Advisors LLC acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $211,000. SG Americas Securities LLC increased its holdings in shares of Nexstar Media Group by 99.7% during the 1st quarter. SG Americas Securities LLC now owns 3,029 shares of the company’s stock worth $201,000 after buying an additional 1,512 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $224,000.

Nexstar Media Group Company Profile

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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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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