Short Interest in Nexstar Media Group, Inc. (NASDAQ:NXST) Drops By 18.4%

Nexstar Media Group, Inc. (NASDAQ:NXST) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 1,474,804 shares, a decline of 18.4% from the March 15th total of 1,807,496 shares. Based on an average daily volume of 579,552 shares, the days-to-cover ratio is presently 2.5 days. Approximately 5.2% of the shares of the company are short sold.

Nexstar Media Group Stock Performance

NXST stock traded up $0.81 during trading on Thursday, reaching $197.40. 326,359 shares of the company’s stock were exchanged, compared to its average volume of 564,055. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. Nexstar Media Group has a 1-year low of $141.66 and a 1-year high of $254.30. The company’s fifty day moving average price is $221.55 and its 200-day moving average price is $207.28. The firm has a market cap of $5.99 billion, a PE ratio of 67.14, a P/E/G ratio of 0.77 and a beta of 0.93.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, February 13th. Nexstar Media Group’s payout ratio is 253.06%.

Institutional Trading of Nexstar Media Group

Institutional investors have recently modified their holdings of the company. Torren Management LLC acquired a new stake in shares of Nexstar Media Group in the fourth quarter valued at $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group in the third quarter valued at $28,000. Root Financial Partners LLC acquired a new stake in shares of Nexstar Media Group in the third quarter valued at $31,000. WPG Advisers LLC lifted its holdings in shares of Nexstar Media Group by 65.7% in the fourth 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 period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Nexstar Media Group by 164.5% in the third 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 period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NXST. Deutsche Bank Aktiengesellschaft boosted their price objective on Nexstar Media Group from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Barrington Research restated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, March 3rd. Benchmark reduced their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, Wells Fargo & Company boosted their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $268.33.

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.