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

Nexstar Media Group (NASDAQ:NXST) had its price objective hoisted by equities research analysts at Guggenheim from $210.00 to $220.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 30.06% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday. Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $190.00 to $200.00 in a research note on Friday. Finally, StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report 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 an average target price of $210.29.

Nexstar Media Group Trading Up 4.0 %

Shares of NXST opened at $169.15 on Friday. Nexstar Media Group has a fifty-two week low of $146.04 and a fifty-two week high of $191.86. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.45 and a beta of 1.45. The firm has a 50 day moving average price of $155.29 and a 200-day moving average price of $163.44. 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 (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities research analysts forecast that Nexstar Media Group will post 21.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lisbeth Mcnabb sold 875 shares of Nexstar Media Group stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $172.00, for a total transaction of $150,500.00. Following the sale, the director now directly owns 5,752 shares in the company, valued at $989,344. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $106,203,582.54. This trade represents a 7.26 % decrease in their position. 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. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $6,496,000. Jefferies Financial Group Inc. purchased a new position in Nexstar Media Group during the fourth quarter valued at $2,086,000. Integrated Advisors Network LLC boosted its holdings in Nexstar Media Group by 9.6% in the fourth quarter. Integrated Advisors Network LLC now owns 1,461 shares of the company’s stock worth $231,000 after acquiring an additional 128 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Nexstar Media Group by 12.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,172 shares of the company’s stock worth $18,352,000 after acquiring an additional 12,695 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Nexstar Media Group during the fourth quarter valued at $7,075,000. 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.