Guggenheim Issues Positive Forecast for Nexstar Media Group (NASDAQ:NXST) Stock Price

Nexstar Media Group (NASDAQ:NXST) had its price objective hoisted by investment analysts at Guggenheim from $210.00 to $220.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 29.41% from the company’s previous close.

A number of other analysts have also recently commented on the company. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and set a $200.00 price target for the company in a research note on Friday. Benchmark reaffirmed a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $208.86.

Nexstar Media Group Trading Up 4.6 %

NASDAQ NXST traded up $7.43 during trading hours on Friday, hitting $170.01. The company’s stock had a trading volume of 184,098 shares, compared to its average volume of 312,265. Nexstar Media Group has a twelve month low of $146.04 and a twelve month high of $191.86. The firm has a market capitalization of $5.27 billion, a P/E ratio of 9.82, a PEG ratio of 0.45 and a beta of 1.45. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a fifty day moving average of $155.08 and a 200 day moving average of $163.29.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Equities research analysts forecast that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Nexstar Media Group

In related news, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the transaction, the director now owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,493 shares of company stock worth $20,354,366. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in Nexstar Media Group in the third quarter valued at $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $25,000. True Wealth Design LLC acquired a new stake in Nexstar Media Group in the 3rd quarter valued at about $30,000. Wilmington Savings Fund Society FSB bought a new position in Nexstar Media Group during the third quarter worth about $33,000. Finally, Capital Performance Advisors LLP acquired a new position in Nexstar Media Group during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

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.