Nexstar Media Group (NASDAQ:NXST) Shares Down 8.8% – Should You Sell?

Nexstar Media Group, Inc. (NASDAQ:NXST)’s stock price traded down 8.8% on Monday . The stock traded as low as $192.35 and last traded at $194.42. 83,349 shares were traded during trading, a decline of 78% from the average session volume of 372,207 shares. The stock had previously closed at $213.13.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Guggenheim upped their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Nexstar Media Group from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Wells Fargo & Company upped their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Benchmark lifted their target price on shares of Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $282.00.

Nexstar Media Group Stock Down 13.1%

The stock has a 50 day moving average price of $228.95 and a 200 day moving average price of $209.08. 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 capitalization of $5.62 billion, a P/E ratio of 63.00, a PEG ratio of 0.84 and a beta of 0.79.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 annualized dividend and a yield of 4.0%. Nexstar Media Group’s payout ratio is currently 253.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NXST. Torren Management LLC purchased a new position in Nexstar Media Group in the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group in the third quarter worth $28,000. Root Financial Partners LLC bought a new stake in shares of Nexstar Media Group in the third quarter valued at $31,000. WPG Advisers LLC lifted its position in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Nexstar Media Group by 164.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after buying an additional 125 shares during the last quarter. 95.30% of the stock is owned by 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.