Nexstar Media Group (NASDAQ:NXST) Price Target Raised to $252.00

Nexstar Media Group (NASDAQ:NXST) had its target price boosted by research analysts at Citigroup from $204.00 to $252.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 1.61% from the stock’s previous close.

NXST has been the subject of a number of other research reports. Guggenheim lifted their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Benchmark raised their price objective on shares of Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a report on Friday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $258.14.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST traded down $3.01 during midday trading on Monday, reaching $248.02. The company’s stock had a trading volume of 115,607 shares, compared to its average volume of 353,224. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The stock has a fifty day moving average of $217.69 and a 200 day moving average of $204.88. Nexstar Media Group has a twelve month low of $141.66 and a twelve month high of $254.30. The firm has a market capitalization of $7.52 billion, a PE ratio of 84.36, a P/E/G ratio of 0.98 and a beta of 0.85.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Dorsal Capital Management LP acquired a new stake in Nexstar Media Group in the 3rd quarter worth about $74,152,000. QVT Financial LP boosted its stake in shares of Nexstar Media Group by 200.0% in the fourth quarter. QVT Financial LP now owns 155,281 shares of the company’s stock worth $31,530,000 after acquiring an additional 310,562 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after purchasing an additional 294,308 shares in the last quarter. Norges Bank acquired a new position in Nexstar Media Group in the 2nd quarter valued at $46,461,000. Finally, JPMorgan Chase & Co. raised its stake in Nexstar Media Group by 157.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.