Nexstar Media Group (NASDAQ:NXST) Stock Price Up 7.1% – What’s Next?

Nexstar Media Group, Inc. (NASDAQ:NXST) traded up 7.1% on Wednesday . The company traded as high as $188.88 and last traded at $188.00. Approximately 119,667 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 397,792 shares. The stock had previously closed at $175.56.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NXST. Barrington Research reiterated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Zacks Research cut shares of Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.67.

Nexstar Media Group Trading Up 5.2%

The company has a fifty day simple moving average of $180.83 and a two-hundred day simple moving average of $203.32. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $5.64 billion, a P/E ratio of 39.60, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.0%. Nexstar Media Group’s payout ratio is currently 159.66%.

Insider Buying and Selling at Nexstar Media Group

In related news, CEO Perry A. Sook purchased 12,235 shares of Nexstar Media Group stock in a transaction dated Friday, June 26th. The stock was bought at an average price of $162.26 per share, for a total transaction of $1,985,251.10. Following the completion of the acquisition, the chief executive officer directly owned 899,044 shares of the company’s stock, valued at $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brett Jenkins sold 301 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $51,413.81. Following the completion of the sale, the insider owned 28,798 shares in the company, valued at approximately $4,918,986.38. This trade represents a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,813 shares of company stock worth $4,174,731 over the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently modified their holdings of the business. Torren Management LLC bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter worth about $28,000. WPG Advisers LLC raised its stake 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 acquiring an additional 71 shares in the last quarter. State of Wyoming bought a new stake in Nexstar Media Group in the second quarter valued at $54,000. Finally, Danske Bank A S purchased a new stake in Nexstar Media Group during the third quarter valued at approximately $59,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

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.