Nexstar Media Group (NASDAQ:NXST) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says
by Mitch Edgeman · The Markets DailyNexstar Media Group (NASDAQ:NXST – Get Free Report) had its target price increased by equities researchers at Deutsche Bank Aktiengesellschaft from $250.00 to $270.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 16.80% from the company’s previous close.
A number of other equities analysts also recently issued reports on the stock. Benchmark increased their price objective on shares of Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Guggenheim increased their target price on 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, Wells Fargo & Company lifted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $282.00.
Nexstar Media Group Stock Up 1.9%
Nexstar Media Group stock traded up $4.36 during midday trading on Monday, hitting $231.17. 190,186 shares of the company’s stock were exchanged, compared to its average volume of 364,279. The company has a debt-to-equity ratio of 3.05, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $7.01 billion, a PE ratio of 78.50, a P/E/G ratio of 0.90 and a beta of 0.79. The firm has a 50-day moving average of $228.18 and a two-hundred day moving average of $208.53. Nexstar Media Group has a 12 month low of $141.66 and a 12 month high of $254.30.
Hedge Funds Weigh In On Nexstar Media Group
Several hedge funds and other institutional investors have recently modified their holdings of NXST. Integrated Wealth Concepts LLC acquired a new stake in shares of Nexstar Media Group in the first quarter worth $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nexstar Media Group by 49.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after purchasing an additional 5,251 shares during the last quarter. Millennium Management LLC grew its position in Nexstar Media Group by 571.4% during the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after purchasing an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Nexstar Media Group by 14.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after purchasing an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Nexstar Media Group during the 1st quarter valued at about $654,000. 95.30% of the stock is owned by hedge funds and other institutional investors.
Nexstar Media Group Company Profile
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.