Nexstar Media Group (NASDAQ:NXST) Shares Gap Up – Should You Buy?

Nexstar Media Group, Inc. (NASDAQ:NXST)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $146.34, but opened at $163.00. Nexstar Media Group shares last traded at $165.27, with a volume of 130,809 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Guggenheim reissued a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $200.00 to $190.00 in a research report 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. Benchmark reissued a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $204.29.

Nexstar Media Group Price Performance

The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a 50-day simple moving average of $154.97 and a 200 day simple moving average of $163.29. The firm has a market cap of $5.08 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.86 dividend. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.54%. Nexstar Media Group’s payout ratio is presently 43.03%.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 52,808 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $106,203,582.54. This trade represents a 7.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernadette S. Aulestia sold 500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total transaction of $82,225.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $328,900. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Nexstar Media Group by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after acquiring an additional 68 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares during the period. Mariner LLC increased its position in shares of Nexstar Media Group by 5.3% during the 4th quarter. Mariner LLC now owns 2,300 shares of the company’s stock valued at $363,000 after purchasing an additional 115 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after purchasing an additional 117 shares during the period. Finally, Focus Partners Wealth grew its stake in shares of Nexstar Media Group by 7.3% during the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock valued at $273,000 after acquiring an additional 117 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

About Nexstar Media Group

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.