Brokerages Set Nexstar Media Group, Inc. (NASDAQ:NXST) Target Price at $204.29

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $204.29.

A number of equities research analysts have recently commented on the stock. Barrington Research reiterated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Guggenheim reiterated a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $154.34 on Friday. Nexstar Media Group has a fifty-two week low of $147.25 and a fifty-two week high of $191.86. The company has a 50 day simple moving average of $156.23 and a two-hundred day simple moving average of $163.88. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 0.44 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.82%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date is Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is presently 43.03%.

Insider Activity at Nexstar Media Group

In other news, Director John R. Muse sold 2,385 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $170.16, for a total transaction of $405,831.60. Following the transaction, the director now directly owns 25,978 shares in the company, valued at approximately $4,420,416.48. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Perry A. Sook sold 52,808 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,209 shares of company stock worth $21,499,239. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently bought and sold shares of NXST. Brooklyn Investment Group purchased a new position in shares of Nexstar Media Group in the third quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in Nexstar Media Group during the fourth quarter valued at $25,000. True Wealth Design LLC acquired a new stake in shares of Nexstar Media Group in the third quarter valued at about $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Nexstar Media Group in the third quarter valued at about $33,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Nexstar Media Group in the third quarter worth about $44,000. Hedge funds and other institutional investors 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.