Nexstar Media Group, Inc. (NASDAQ:NXST) Sees Large Increase in Short Interest

Nexstar Media Group, Inc. (NASDAQ:NXST) saw a large increase in short interest in 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. Based on an average daily volume of 449,776 shares, the short-interest ratio is presently 4.9 days. Currently, 7.8% of the company’s stock are sold short. Currently, 7.8% of the company’s stock are sold short. Based on an average daily volume of 449,776 shares, the short-interest ratio is presently 4.9 days.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $253.64 on Friday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 86.27, a P/E/G ratio of 0.96 and a beta of 0.79. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $254.30. The firm’s 50-day simple moving average is $221.27 and its two-hundred day simple moving average is $206.01.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders 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 dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, February 13th. Nexstar Media Group’s dividend payout ratio is currently 253.06%.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of analyst reports. Barrington Research reiterated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Guggenheim upped their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Benchmark raised their price objective on Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.43.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nexstar Media Group by 49.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after acquiring an additional 5,251 shares during the period. Millennium Management LLC lifted its position in shares of Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after acquiring an additional 61,830 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Nexstar Media Group by 14.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after acquiring an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Nexstar Media Group in the first quarter valued at $654,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.