Nexstar Media Group (NXST)

• Market cap: $5.28B
• 1 day: -0.54%
• 5 days: -0.28%
• 1 month: -7.14%
• 3 months: 5.40%
• 6 months: 8.57%
• Year to date: 6.21%
• 1 year: 20.02%
• 5 years: 56.15%
• 10 years: 227.31%
• Sector: Communication Services
• Industry: Television Broadcasting Stations

About: Nexstar is the largest television station owner-operator in the United States with over 200 stations in 116 markets. Of its 200 stations, 155 are affiliated with the four national broadcast networks: CBS, Fox, NBC, and ABC. The 2019 merger with Tribune made Nexstar the top broadcast affiliate for both Fox and CBS as well as the number-two partner for NBC and number three for ABC. The firm has stations in 12 of the top 20 television markets and reaches 68% of us TV households. Nexstar also owns NewsNation (formerly WGN), a nationwide pay-television network, 75% of The CW, and a 31% stake in Food Network and Cooking Channel.

Employees: 13,294

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

26% more first-time investments, than exits

New positions opened: 68 | Existing positions closed: 54

18% more call options, than puts

Call options by funds: $38.9M | Put options by funds: $33M

3% more funds holding

Funds holding: 436 [Q2] → 450 (+14) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 8 [Q2] → 8 (+0) [Q3]

6.3% less ownership

Funds ownership: 94.92% [Q2] → 88.62% (-6.3%) [Q3]

7% less capital invested

Capital invested by funds: $5.16B [Q2] → $4.8B (-$360M) [Q3]

25% less repeat investments, than reductions

Existing positions increased: 138 | Existing positions reduced: 185

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $198 16% upside
• Avg. target: $206 21% upside
• High target: $215 26% upside

5 analyst ratings

• positive: 5 100%
• neutral: 0 0%
• negative: 0 0%

Barrington Research James Goss 82% 1-year accuracy 65 / 79 met price target	18% upside $200	Outperform Maintained	12 Nov 2024
Benchmark Daniel Kurnos 68% 1-year accuracy 49 / 72 met price target	26% upside $215	Buy Reiterated	8 Nov 2024
Barrington Research James Goss 82% 1-year accuracy 65 / 79 met price target	18% upside $200	Outperform Maintained	7 Nov 2024
Benchmark Daniel Kurnos 68% 1-year accuracy 49 / 72 met price target	26% upside $215	Buy Maintained	14 Oct 2024
Guggenheim Curry Baker 80% 1-year accuracy 12 / 15 met price target	16% upside $198	Buy Maintained	4 Oct 2024