Nexstar Media Group (NASDAQ:NXST) Raised to Buy at Wall Street Zen

by · The Cerbat Gem

Nexstar Media Group (NASDAQ:NXST – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

NXST has been the subject of a number of other reports. Benchmark reduced their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price target for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Guggenheim lifted their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $259.67.

Read Our Latest Stock Report on NXST

Nexstar Media Group Price Performance

Shares of NXST opened at $195.39 on Friday. Nexstar Media Group has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 41.93, a price-to-earnings-growth ratio of 0.59 and a beta of 0.97. The firm has a 50-day simple moving average of $208.01 and a 200-day simple moving average of $208.21. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76.

Institutional Trading of Nexstar Media Group

Several institutional investors have recently made changes to their positions in NXST. Dorsal Capital Management LP acquired a new position in Nexstar Media Group in the 3rd quarter worth $74,152,000. QVT Financial LP lifted its holdings in Nexstar Media Group by 200.0% in the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock worth $31,530,000 after buying an additional 310,562 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after buying an additional 294,308 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Nexstar Media Group by 157.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after buying an additional 228,603 shares in the last quarter. Finally, Norges Bank acquired a new position in Nexstar Media Group in the 4th quarter worth $41,474,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Nexstar Media Group

(Get Free Report)

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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