Nexstar Media Group (NASDAQ:NXST) Rating Reiterated by Barrington Research

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “outperform” rating restated by Barrington Research in a research note issued to investors on Thursday, Benzinga reports. They presently have a $200.00 price target on the stock. Barrington Research’s price target suggests a potential upside of 12.40% from the company’s current price.

Several other equities analysts have also recently commented on the stock. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Rosenblatt Securities lowered their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $193.83.

Nexstar Media Group Stock Up 5.8 %

Shares of NXST opened at $177.94 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.90. Nexstar Media Group has a 12 month low of $132.30 and a 12 month high of $187.32. The firm’s 50 day moving average is $164.90 and its 200-day moving average is $160.59. The stock has a market capitalization of $5.86 billion, a PE ratio of 18.48, a P/E/G ratio of 0.62 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $8.04 EPS. Equities research analysts forecast that Nexstar Media Group will post 26.73 EPS for the current year.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the sale, the director now directly owns 12,027 shares in the company, valued at $2,054,452.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the sale, the director now owns 12,027 shares of the company’s stock, valued at $2,054,452.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the transaction, the chief executive officer now owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,508 shares of company stock worth $7,487,950. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Channing Capital Management LLC lifted its stake in Nexstar Media Group by 738.8% in the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after buying an additional 445,859 shares during the period. Point72 Asset Management L.P. increased its position in Nexstar Media Group by 392.6% in the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after buying an additional 358,920 shares in the last quarter. Norges Bank acquired a new position in Nexstar Media Group during the 4th quarter worth approximately $51,812,000. Boston Financial Mangement LLC raised its stake in Nexstar Media Group by 156.5% during the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after buying an additional 145,617 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Nexstar Media Group by 15,107.2% in the fourth quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock worth $19,213,000 after acquiring an additional 121,764 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

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.