Nexstar Media Group (NASDAQ:NXST) Shares Gap Up – Here’s What Happened

Nexstar Media Group, Inc. (NASDAQ:NXST)’s share price gapped up before the market opened on Friday . The stock had previously closed at $223.05, but opened at $231.64. Nexstar Media Group shares last traded at $229.3580, with a volume of 232,256 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, March 3rd. Benchmark lifted their price target on shares of Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Guggenheim boosted their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.67.

Nexstar Media Group Trading Up 3.8%

The business has a 50 day moving average of $227.81 and a 200-day moving average of $208.32. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The firm has a market capitalization of $7.02 billion, a P/E ratio of 78.58, a PEG ratio of 0.90 and a beta of 0.79.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.2%. Nexstar Media Group’s dividend payout ratio is currently 253.06%.

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors have recently added to or reduced their stakes in the stock. Torren Management LLC acquired a new position in Nexstar Media Group in the 4th quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at about $28,000. Root Financial Partners LLC bought a new stake in shares of Nexstar Media Group in the third quarter valued at about $31,000. Allworth Financial LP lifted its holdings in shares of Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after purchasing an additional 179 shares in the last quarter. Finally, WPG Advisers LLC boosted its position in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 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.