Nexstar Media Group (NASDAQ:NXST) Sees Unusually-High Trading Volume

Nexstar Media Group Inc (NASDAQ:NXST) saw an uptick in trading volume on Friday . 5,432,111 shares changed hands during mid-day trading, an increase of 907% from the previous session’s volume of 539,691 shares.The stock last traded at $101.00 and had previously closed at $100.16.

A number of research firms recently issued reports on NXST. Barrington Research reiterated a “buy” rating and issued a $135.00 target price on shares of Nexstar Media Group in a report on Monday, May 13th. BidaskClub lowered Nexstar Media Group from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research lowered Nexstar Media Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Benchmark reiterated a “buy” rating and issued a $120.00 target price (up from $115.00) on shares of Nexstar Media Group in a report on Thursday, March 21st. Finally, B. Riley set a $139.00 target price on Nexstar Media Group and gave the company a “buy” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Nexstar Media Group presently has an average rating of “Buy” and an average price target of $113.13.

The firm has a market capitalization of $4.66 billion, a P/E ratio of 11.83, a PEG ratio of 1.53 and a beta of 1.60. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.00. The stock has a fifty day moving average price of $102.58.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.02). The business had revenue of $626.65 million for the quarter, compared to analysts’ expectations of $640.35 million. Nexstar Media Group had a return on equity of 23.08% and a net margin of 14.26%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. Research analysts anticipate that Nexstar Media Group Inc will post 6.59 EPS for the current fiscal year.

In other Nexstar Media Group news, Director Dennis Miller sold 625 shares of Nexstar Media Group stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $102.17, for a total transaction of $63,856.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legacy Bridge LLC purchased a new stake in Nexstar Media Group during the 1st quarter worth about $26,000. Private Capital Group LLC lifted its holdings in shares of Nexstar Media Group by 46.3% in the 1st quarter. Private Capital Group LLC now owns 392 shares of the company’s stock valued at $42,000 after purchasing an additional 124 shares during the last quarter. Synovus Financial Corp purchased a new stake in shares of Nexstar Media Group in the 1st quarter valued at about $54,000. State of Alaska Department of Revenue purchased a new stake in shares of Nexstar Media Group in the 1st quarter valued at about $66,000. Finally, Investors Research Corp purchased a new stake in shares of Nexstar Media Group in the 1st quarter valued at about $97,000.

Nexstar Media Group Company Profile (NASDAQ:NXST)

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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