Nexstar Media Group (NASDAQ:NXST) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Nexstar Media Group (NASDAQ:NXST – Get Rating) in a research report report published on Thursday. The firm issued a hold rating on the stock.

NXST has been the topic of several other reports. Barrington Research reissued an outperform rating and issued a $235.00 target price on shares of Nexstar Media Group in a research report on Wednesday, March 8th. Benchmark reiterated a buy rating and set a $230.00 price objective on shares of Nexstar Media Group in a research report on Monday, February 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $222.00.

Nexstar Media Group Trading Down 3.0 %

Shares of NXST stock opened at $159.20 on Thursday. The stock has a 50-day simple moving average of $188.51 and a 200 day simple moving average of $181.74. The stock has a market capitalization of $5.85 billion, a P/E ratio of 6.59, a P/E/G ratio of 1.14 and a beta of 1.51. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 2.47. Nexstar Media Group has a fifty-two week low of $151.01 and a fifty-two week high of $217.76.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.39%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, February 9th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 22.36%.

Insider Transactions at Nexstar Media Group

In other news, Director Lisbeth Mcnabb sold 500 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $160.06, for a total value of $80,030.00. Following the transaction, the director now owns 13,277 shares of the company’s stock, valued at approximately $2,125,116.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 500 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $160.06, for a total transaction of $80,030.00. Following the completion of the transaction, the director now owns 13,277 shares in the company, valued at approximately $2,125,116.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean Compton sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $175.85, for a total transaction of $439,625.00. Following the sale, the insider now directly owns 6,930 shares in the company, valued at $1,218,640.50. The disclosure for this sale can be found here. Insiders sold a total of 5,400 shares of company stock worth $945,793 over the last 90 days. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently modified their holdings of the business. Zeno Research LLC bought a new position in Nexstar Media Group in the second quarter valued at about $1,970,000. Ergoteles LLC acquired a new position in shares of Nexstar Media Group during the third quarter valued at about $1,000,000. Gamco Investors INC. ET AL increased its position in shares of Nexstar Media Group by 0.3% during the second quarter. Gamco Investors INC. ET AL now owns 130,592 shares of the company’s stock worth $21,271,000 after acquiring an additional 451 shares in the last quarter. AlphaCrest Capital Management LLC raised its holdings in shares of Nexstar Media Group by 340.9% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 9,170 shares of the company’s stock worth $1,494,000 after acquiring an additional 7,090 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Nexstar Media Group by 6.9% in the 3rd quarter. California Public Employees Retirement System now owns 89,522 shares of the company’s stock valued at $14,937,000 after acquiring an additional 5,766 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

About Nexstar Media Group

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Nexstar Media Group, Inc is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire.