Nexstar Media Group Sees Unusually Large Options Volume (NXST)

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Nexstar Media Group Inc (NASDAQ:NXST) was the target of unusually large options trading on Tuesday. Stock traders purchased 3,208 call options on the company. This is an increase of 1,504% compared to the typical volume of 200 call options.

Nexstar Media Group stock opened at $73.52 on Wednesday. Nexstar Media Group has a 52 week low of $60.30 and a 52 week high of $89.75. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.43 and a quick ratio of 2.43. The stock has a market cap of $3.29 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 0.90 and a beta of 1.78.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Wednesday, August 8th. The company reported $1.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.14. Nexstar Media Group had a return on equity of 17.28% and a net margin of 22.07%. The business had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $657.92 million. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Nexstar Media Group will post 8.05 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, November 15th. Nexstar Media Group’s payout ratio is 37.69%.

Several brokerages have recently weighed in on NXST. ValuEngine cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. BidaskClub cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 20th. B. Riley lifted their price target on Nexstar Media Group from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. Noble Financial cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Stephens set a $94.00 price target on Nexstar Media Group and gave the company a “buy” rating in a research report on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $90.08.

In other news, EVP Elizabeth Ryder sold 3,000 shares of Nexstar Media Group stock in a transaction on Monday, September 24th. The stock was sold at an average price of $82.70, for a total value of $248,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,435 shares in the company, valued at $697,574.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Blake Russell sold 7,262 shares of Nexstar Media Group stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $82.90, for a total value of $602,019.80. Following the completion of the transaction, the executive vice president now owns 31,950 shares of the company’s stock, valued at $2,648,655. The disclosure for this sale can be found here. Insiders sold 21,950 shares of company stock valued at $1,796,747 over the last three months. Company insiders own 6.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NXST. TPG Group Holdings SBS Advisors Inc. purchased a new position in Nexstar Media Group during the second quarter worth about $34,247,000. Brown Advisory Inc. grew its position in Nexstar Media Group by 36.8% during the second quarter. Brown Advisory Inc. now owns 1,083,408 shares of the company’s stock worth $79,523,000 after buying an additional 291,197 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Nexstar Media Group by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,862,138 shares of the company’s stock worth $136,684,000 after buying an additional 257,729 shares in the last quarter. Bank of America Corp DE lifted its stake in Nexstar Media Group by 59.8% during the second quarter. Bank of America Corp DE now owns 560,840 shares of the company’s stock worth $41,165,000 after purchasing an additional 209,885 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its stake in Nexstar Media Group by 140.4% during the second quarter. Federated Investors Inc. PA now owns 353,465 shares of the company’s stock worth $25,944,000 after purchasing an additional 206,410 shares during the last quarter.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.

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