Nexstar Media Group (NASDAQ:NXST) Upgraded at Loop Capital

Nexstar Media Group (NASDAQ:NXST) was upgraded by analysts at Loop Capital from a “hold” rating to a “buy” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $200.00 target price on the stock. Loop Capital’s price objective would indicate a potential upside of 23.02% from the company’s current price.

Other equities analysts have also issued reports about the company. Guggenheim reiterated a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. 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 note on Thursday. Finally, StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $205.71.

Nexstar Media Group Price Performance

NXST stock opened at $162.58 on Friday. The firm has a 50 day simple moving average of $155.08 and a two-hundred day simple moving average of $163.29. The stock has a market cap of $5.04 billion, a PE ratio of 9.40, a P/E/G ratio of 0.45 and a beta of 1.45. Nexstar Media Group has a one year low of $146.04 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its 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 analysts’ expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, analysts predict that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Insider Activity

In other news, CEO Perry A. Sook sold 35,205 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. The trade was a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisbeth Mcnabb sold 875 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $172.00, for a total transaction of $150,500.00. Following the completion of the sale, the director now owns 5,752 shares of the company’s stock, valued at $989,344. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,493 shares of company stock valued at $20,354,366. Insiders own 6.30% of the company’s stock.

Institutional Trading of Nexstar Media Group

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

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.