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.
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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