Wells Fargo’s latest rating for NXST stock


Nexstar Media Group Inc.’s recently made public that its EVP, Chief Financial Officer Gliha Lee Ann unloaded Company’s shares for reported $0.15 million on Aug 15. In the deal valued at $160.03 per share,910 shares were sold. As a result of this transaction, Gliha Lee Ann now holds 4,476 shares worth roughly $ 0.63 million.

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Then, Morgan Rachel sold 937 shares, generating $153,450 in total proceeds. Upon selling the shares at $163.77, the EVP General Counsel now owns 2,813 shares.

Before that, Russell Blake sold 3,000 shares. Nexstar Media Group Inc. shares valued at $503,662 were divested by the EVP, Station Operations at a price of $167.89 per share. As a result of the transaction, Russell Blake now holds 27,897 shares, worth roughly $3.95 million.

Wells Fargo downgraded its Nexstar Media Group Inc. [NXST] rating to an Equal weight from a an Overweight in a research note published on Friday, November 09, 2022; the price target was decreased to $175 from $227. PT values the company’s stock at a premium of 19.14 to its Friday closing price.

Price Performance Review of NXST

On Friday, Nexstar Media Group Inc. [NASDAQ:NXST] saw its stock fall -13.08% to $141.50. On the same session, the stock had its day’s lowest price of $140.82, but rose to a high of $162.255. Over the last five days, the stock has lost -9.92%. Nexstar Media Group Inc. shares have fallen nearly -19.16% since the year began. Nevertheless, the stocks have fallen -26.04% over the past one year. While a 52-week high of $217.76 was reached on 02/02/23, a 52-week low of $148.00 was recorded on 09/01/23. SMA at 50 days reached $169.93, while 200 days put it at $174.30. A total of 1.8 million shares were traded, compared to the trading of 0.2 million shares in the previous session.

Levels Of Support And Resistance For NXST Stock

The 24-hour chart illustrates a support level at 134.13, which if violated will result in even more drops to 126.76. On the upside, there is a resistance level at 155.56. A further resistance level may holdings at 169.63. The Relative Strength Index (RSI) on the 14-day chart is 28.48, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.41%. Stochastics %K at 52.43% indicates the stock is a holding.

How much short interest is there in Nexstar Media Group Inc.?

A steep rise in short interest was recorded in Nexstar Media Group Inc. stocks on Aug 14, 2023, growing by 0.17 million shares to a total of 2.24 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.07 million shares. There was a rise of 7.59%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.74% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.61.

Nexstar Media Group Inc. [NXST] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 3,297,996 shares, or roughly 9.20% of the outstanding NXST shares. In other words, the investor’s shares have fallen by -133,630 from its previous 13-F filing of 3431626.0. Additionally, BlackRock Fund Advisors decreased -4.84% of its stake after which the total value it holdings stand at $538,902,301, while Boston Partners Global Investors, reduced -4.14% of its stake to hold $299.46 million in the firm. Over the last quarter, Neuberger Berman Investment Advis sold -70,366 shares of Nexstar Media Group Inc., while Fidelity Management & Research Co sold 125,536 shares. At present, LSV Asset Management is holding 1,322,815 shares valued at $247.0 million. Dimensional Fund Advisors LP owned 1,295,004 shares of the company at the time of its most recent 13F filing, worth $241.8 million.

According to FactSet, Nexstar Media Group Inc.’s share price will average $212.78 in the next year, based on opinions of analysts polled by the firm. This is up nearly 28.99 percent from its previous closing price of $162.80. Analysts expect Nexstar Media Group Inc. stock to reach the higher price of $235.00, while the lowest price estimate is $175.00. However, 10 analysts have rated NXST stock as a Buy in their predictions for 2023.


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