Nexstar Media Group (NASDAQ:NXST) Downgraded to Hold Rating by Loop Capital

Loop Capital cut shares of Nexstar Media Group (NASDAQ:NXST) from a buy rating to a hold rating in a report released on Friday, Marketbeat Ratings reports. They currently have $190.00 price objective on the stock, down from their previous price objective of $200.00.

NXST has been the topic of several other reports. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Guggenheim dropped their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Benchmark dropped their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Trading Up 3.0 %

Shares of NXST stock opened at $171.01 on Friday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 9.89, a P/E/G ratio of 0.19 and a beta of 1.48. Nexstar Media Group has a twelve month low of $140.92 and a twelve month high of $191.86. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock’s fifty day simple moving average is $168.54 and its 200 day simple moving average is $167.06.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 25.72% and a net margin of 11.39%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. As a group, sell-side analysts predict that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Nexstar Media Group news, COO Michael Biard sold 2,458 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $169.28, for a total transaction of $416,090.24. Following the sale, the chief operating officer now owns 3,792 shares in the company, valued at $641,909.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,112 shares of company stock valued at $6,887,029. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group in the second quarter worth $27,000. Allspring Global Investments Holdings LLC raised its position in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Nexstar Media Group in the third quarter worth $44,000. GAMMA Investing LLC raised its position in shares of Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after buying an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Nexstar Media Group in the second quarter worth $49,000. 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.