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

Nexstar Media Group, Inc. (NASDAQ:NXST) was the target of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 2,199,003 shares, an increase of 21.5% from the January 29th total of 1,809,312 shares. Approximately 7.8% of the company’s shares are sold short. Based on an average daily volume of 449,776 shares, the short-interest ratio is currently 4.9 days. Based on an average daily volume of 449,776 shares, the short-interest ratio is currently 4.9 days. Approximately 7.8% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday. Wells Fargo & Company raised their target price 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Citigroup increased their price target on shares of Nexstar Media Group from $204.00 to $252.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Guggenheim boosted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $267.43.

Nexstar Media Group Trading Down 1.5%

Shares of NXST stock opened at $243.55 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group has a fifty-two week low of $141.66 and a fifty-two week high of $254.30. The firm’s 50 day moving average price is $219.43 and its two-hundred day moving average price is $205.39. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 82.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79.

Nexstar Media Group Dividend Announcement

The firm 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. This represents a $7.44 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, February 13th. Nexstar Media Group’s dividend payout ratio is 253.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nexstar Media Group during the 4th quarter valued at about $167,000. Cross Staff Investments Inc acquired a new stake in Nexstar Media Group in the fourth quarter valued at approximately $203,000. Compound Planning Inc. acquired a new stake in Nexstar Media Group in the fourth quarter valued at approximately $252,000. Corient Private Wealth LLC raised its stake in shares of Nexstar Media Group by 1,595.7% during the fourth quarter. Corient Private Wealth LLC now owns 114,813 shares of the company’s stock valued at $23,313,000 after purchasing an additional 108,042 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Nexstar Media Group by 27.8% during the fourth quarter. Vident Advisory LLC now owns 12,529 shares of the company’s stock worth $2,544,000 after purchasing an additional 2,729 shares in 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.