Guggenheim Forecasts Strong Price Appreciation for Nexstar Media Group (NASDAQ:NXST) Stock

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 brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 29.41% from the company’s previous close.

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

Nexstar Media Group Trading Up 4.6 %

NASDAQ NXST traded up $7.43 on Friday, hitting $170.01. 184,098 shares of the stock were exchanged, compared to its average volume of 312,265. The company’s 50-day moving average price is $155.08 and its two-hundred day moving average price is $163.29. 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 has a 52-week low of $146.04 and a 52-week high of $191.86. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.45 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results 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). The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Research analysts predict that Nexstar Media Group will post 21.62 EPS for the current year.

Insiders Place Their Bets

In other news, Director Bernadette S. Aulestia sold 500 shares of the business’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 approximately $328,900. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lisbeth Mcnabb sold 875 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $172.00, for a total value 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 represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,493 shares of company stock valued at $20,354,366 in the last quarter. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning grew its stake in shares of Nexstar Media Group by 43.8% in the 3rd quarter. Creative Planning now owns 6,925 shares of the company’s stock valued at $1,145,000 after purchasing an additional 2,108 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Nexstar Media Group by 43.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,419 shares of the company’s stock worth $1,061,000 after buying an additional 1,951 shares in the last quarter. Integrated Advisors Network LLC bought a new stake in Nexstar Media Group during the 3rd quarter worth approximately $220,000. New York State Common Retirement Fund boosted its stake in Nexstar Media Group by 6.1% in the third quarter. New York State Common Retirement Fund now owns 189,673 shares of the company’s stock worth $31,362,000 after purchasing an additional 10,938 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Nexstar Media Group by 137.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,373 shares of the company’s stock worth $723,000 after buying an additional 2,533 shares in the last quarter. 95.30% of the stock is owned by 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.