Nexstar Media Group (NASDAQ:NXST)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Co in a research note issued to investors on Thursday. They presently have a $102.00 target price on the stock, up from their prior target price of $93.00. Wells Fargo & Co’s target price indicates a potential upside of 34.92% from the company’s previous close.
A number of other research firms also recently issued reports on NXST. BidaskClub raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Noble Financial reissued a “buy” rating on shares of Nexstar Media Group in a report on Thursday, December 21st. FBR & Co initiated coverage on shares of Nexstar Media Group in a report on Tuesday, October 31st. They issued a “buy” rating and a $79.00 price objective for the company. Finally, Deutsche Bank boosted their price objective on shares of Nexstar Media Group from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $83.70.
Shares of Nexstar Media Group (NXST) opened at $75.60 on Thursday. The company has a market cap of $3,508.59, a PE ratio of 28.42, a P/E/G ratio of 0.77 and a beta of 2.21. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35. Nexstar Media Group has a twelve month low of $55.95 and a twelve month high of $80.45.
In other news, insider Gary Michael Vaughn sold 5,050 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $61.35, for a total value of $309,817.50. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $613,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Perry A. Sook sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $66.13, for a total transaction of $19,839,000.00. 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 90 days. Corporate insiders own 7.80% of the company’s stock.
Several large investors have recently modified their holdings of NXST. Rovida Advisors Inc. raised its position in shares of Nexstar Media Group by 940.8% in the 3rd quarter. Rovida Advisors Inc. now owns 506,743 shares of the company’s stock valued at $31,570,000 after buying an additional 458,055 shares in the last quarter. Royal Bank of Canada raised its position in shares of Nexstar Media Group by 62.0% in the 2nd quarter. Royal Bank of Canada now owns 1,071,694 shares of the company’s stock valued at $64,089,000 after buying an additional 410,332 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $22,069,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Nexstar Media Group by 24.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,538,285 shares of the company’s stock valued at $95,834,000 after buying an additional 304,610 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Nexstar Media Group by 1,196.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 328,593 shares of the company’s stock worth $20,471,000 after purchasing an additional 303,248 shares in the last quarter.
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.
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