Nexstar Media Group (NASDAQ:NXST) Stock Price Up 12.2% – Still a Buy?

Nexstar Media Group, Inc. (NASDAQ:NXST) shares shot up 12.2% during mid-day trading on Monday . The company traded as high as $253.16 and last traded at $248.1870. 177,635 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 318,272 shares. The stock had previously closed at $221.27.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NXST shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup cut their price objective on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.50.

Nexstar Media Group Stock Performance

The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $7.29 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.91 and a beta of 0.85. The business’s 50 day simple moving average is $208.37 and its two-hundred day simple moving average is $200.75.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, February 13th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 46.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NXST. Dimensional Fund Advisors LP increased its holdings in Nexstar Media Group by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,391,323 shares of the company’s stock worth $275,121,000 after buying an additional 42,391 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after acquiring an additional 187,864 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Nexstar Media Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after acquiring an additional 13,084 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Nexstar Media Group by 13.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock valued at $127,070,000 after purchasing an additional 75,228 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after purchasing an additional 294,308 shares during the period. 95.30% of the stock is owned by institutional investors.

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.