Nexstar Media Group, Inc. (NASDAQ:NXST) Short Interest Update

Nexstar Media Group, Inc. (NASDAQ:NXST) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 1,806,510 shares, a decrease of 17.8% from the February 12th total of 2,199,003 shares. Currently, 6.4% of the company’s stock are sold short. Based on an average daily trading volume, of 320,731 shares, the short-interest ratio is presently 5.6 days. Based on an average daily trading volume, of 320,731 shares, the short-interest ratio is presently 5.6 days. Currently, 6.4% of the company’s stock are sold short.

Nexstar Media Group Stock Up 1.2%

Shares of NASDAQ NXST traded up $2.91 during mid-day trading on Monday, hitting $236.52. The company had a trading volume of 272,118 shares, compared to its average volume of 303,736. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The firm has a 50-day simple moving average of $226.39 and a two-hundred day simple moving average of $207.83. The company has a market capitalization of $7.17 billion, a PE ratio of 80.45, a price-to-earnings-growth ratio of 0.92 and a beta of 0.79. Nexstar Media Group has a one year low of $141.66 and a one year high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 annualized dividend and a yield of 3.1%. Nexstar Media Group’s dividend payout ratio is 253.06%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NXST. Barrington Research reiterated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Wells Fargo & Company raised their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Benchmark lifted their price objective on shares of Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Guggenheim boosted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Torren Management LLC bought a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of Nexstar Media Group in the third quarter valued at $28,000. Root Financial Partners LLC bought a new position in shares of Nexstar Media Group in the third quarter valued at $31,000. Allworth Financial LP increased its holdings in Nexstar Media Group by 617.2% during the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after buying an additional 179 shares during the last quarter. Finally, WPG Advisers LLC increased its holdings in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Nexstar Media Group

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.