Nexstar Media Group (NASDAQ:NXST) Upgraded at Citigroup

Nexstar Media Group (NASDAQ:NXST) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $220.00 price objective on the stock, down from their previous price objective of $252.00. Citigroup’s price target would suggest a potential upside of 23.03% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Benchmark cut their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on Nexstar Media Group from $250.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, March 3rd. Finally, Guggenheim upped their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.33.

Nexstar Media Group Trading Down 2.6%

NASDAQ:NXST opened at $178.82 on Friday. The company has a fifty day moving average of $223.65 and a 200 day moving average of $207.58. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $254.30. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. The firm has a market capitalization of $5.42 billion, a P/E ratio of 60.82, a P/E/G ratio of 0.72 and a beta of 0.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NXST. Sentinel Dome Partners LLC bought a new position in Nexstar Media Group in the fourth quarter worth $2,315,000. Caitong International Asset Management Co. Ltd purchased a new position in Nexstar Media Group during the fourth quarter valued at $167,000. Cross Staff Investments Inc bought a new stake in shares of Nexstar Media Group during the 4th quarter valued at $203,000. Compound Planning Inc. purchased a new stake in shares of Nexstar Media Group in the 4th quarter worth about $252,000. Finally, Corient Private Wealth LLC grew its position in shares of Nexstar Media Group by 1,595.7% in the 4th quarter. Corient Private Wealth LLC now owns 114,813 shares of the company’s stock worth $23,313,000 after buying an additional 108,042 shares during the period. Hedge funds and other institutional investors 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.