Nexstar Media Group (NASDAQ:NXST) Downgraded by BidaskClub to Buy

BidaskClub downgraded shares of Nexstar Media Group (NASDAQ:NXST) from a strong-buy rating to a buy rating in a research note published on Wednesday, January 3rd.

Several other equities analysts have also commented on NXST. Zacks Investment Research lowered Nexstar Media Group from a buy rating to a hold rating in a research note on Tuesday, October 17th. FBR & Co started coverage on Nexstar Media Group in a research note on Tuesday, October 31st. They set a buy rating and a $79.00 target price on the stock. Guggenheim began coverage on Nexstar Media Group in a research note on Wednesday, October 18th. They set a buy rating and a $90.00 target price on the stock. Royal Bank of Canada restated a buy rating and set a $81.00 price target on shares of Nexstar Media Group in a report on Monday, September 18th. Finally, Jefferies Group restated a buy rating and set a $80.00 price target on shares of Nexstar Media Group in a report on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $85.10.

Shares of Nexstar Media Group (NASDAQ:NXST) traded down $0.55 on Wednesday, hitting $79.45. The company had a trading volume of 542,867 shares, compared to its average volume of 729,548. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.35 and a quick ratio of 1.35. Nexstar Media Group has a 52-week low of $55.95 and a 52-week high of $80.45. The stock has a market capitalization of $3,620.00, a PE ratio of 29.76, a price-to-earnings-growth ratio of 0.80 and a beta of 2.21.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The firm had revenue of $611.87 million during the quarter, compared to analysts’ expectations of $609.44 million. Nexstar Media Group had a return on equity of 16.20% and a net margin of 5.60%. The firm’s revenue for the quarter was up 122.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. sell-side analysts predict that Nexstar Media Group will post 3.46 EPS for the current year.

In related news, insider Timothy C. Busch sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $79.13, for a total value of $791,300.00. Following the completion of the transaction, the insider now directly owns 50,214 shares of the company’s stock, valued at approximately $3,973,433.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Michael Vaughn sold 5,050 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $61.35, for a total value of $309,817.50. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $613,500. The disclosure for this sale can be found here. Insiders sold a total of 345,860 shares of company stock valued at $23,290,703 over the last three months. Insiders own 7.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its stake in shares of Nexstar Media Group by 0.6% during the second quarter. UBS Asset Management Americas Inc. now owns 23,312 shares of the company’s stock worth $1,394,000 after purchasing an additional 131 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Nexstar Media Group by 8.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock valued at $239,000 after buying an additional 312 shares during the last quarter. Amalgamated Bank increased its holdings in Nexstar Media Group by 10.8% in the second quarter. Amalgamated Bank now owns 5,951 shares of the company’s stock valued at $356,000 after buying an additional 582 shares during the last quarter. BW Gestao de Investimentos Ltda. increased its holdings in Nexstar Media Group by 8.8% in the second quarter. BW Gestao de Investimentos Ltda. now owns 8,195 shares of the company’s stock valued at $490,000 after buying an additional 660 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Nexstar Media Group by 1.5% in the third quarter. Rhumbline Advisers now owns 52,910 shares of the company’s stock valued at $3,296,000 after buying an additional 776 shares during the last quarter.

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Nexstar Media Group Company Profile

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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