Nexstar Media Group Inc (NASDAQ:NXST) Short Interest Down 19.1% in July
Nexstar Media Group Inc (NASDAQ:NXST) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 2,409,700 shares, a decline of 19.1% from the June 15th total of 2,979,300 shares. Based on an average daily volume of 514,400 shares, the days-to-cover ratio is presently 4.7 days. Approximately 5.5% of the shares of the company are short sold.
A number of analysts recently issued reports on the company. Barrington Research reiterated a “buy” rating and set a $29.00 price objective on shares of Outfront Media in a research note on Monday, May 13th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. B. Riley set a $30.00 target price on Customers Bancorp and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $119.71.
Nexstar Media Group stock traded down $1.50 during midday trading on Friday, hitting $101.55. 308,330 shares of the company’s stock were exchanged, compared to its average volume of 650,664. Nexstar Media Group has a 52-week low of $70.09 and a 52-week high of $119.93. The stock’s 50-day moving average price is $103.30. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $4.75 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.60 and a beta of 1.50.
In related news, Director Dennis Miller sold 625 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $102.17, for a total transaction of $63,856.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Legacy Bridge LLC purchased a new position in Nexstar Media Group during the first quarter worth about $26,000. Private Capital Group LLC grew its position in Nexstar Media Group by 46.3% during the first quarter. Private Capital Group LLC now owns 392 shares of the company’s stock worth $42,000 after buying an additional 124 shares in the last quarter. Synovus Financial Corp purchased a new position in Nexstar Media Group during the first quarter worth about $54,000. State of Alaska Department of Revenue purchased a new position in Nexstar Media Group during the first quarter worth about $66,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Nexstar Media Group in the 2nd quarter worth about $80,000.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.
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