Nexstar Media Group Target of Unusually Large Options Trading (NXST)

Nexstar Media Group Inc (NASDAQ:NXST) was the recipient of unusually large options trading on Tuesday. Traders bought 3,208 call options on the stock. This is an increase of approximately 1,504% compared to the typical daily volume of 200 call options.

In other news, SVP Keith P. Hopkins sold 1,625 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $80.35, for a total value of $130,568.75. Following the transaction, the senior vice president now owns 3,125 shares of the company’s stock, valued at $251,093.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Alford sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $82.30, for a total value of $82,300.00. Following the completion of the transaction, the insider now directly owns 370 shares in the company, valued at approximately $30,451. The disclosure for this sale can be found here. Insiders sold 21,950 shares of company stock worth $1,796,747 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. GAM Holding AG purchased a new position in Nexstar Media Group during the 2nd quarter valued at approximately $593,000. Caerus Investors LLC purchased a new position in Nexstar Media Group during the 2nd quarter valued at approximately $2,196,000. King Luther Capital Management Corp purchased a new position in Nexstar Media Group during the 2nd quarter valued at approximately $2,079,000. Allianz Asset Management GmbH grew its holdings in Nexstar Media Group by 43.6% during the 1st quarter. Allianz Asset Management GmbH now owns 24,294 shares of the company’s stock valued at $1,616,000 after buying an additional 7,377 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Nexstar Media Group by 12.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,932 shares of the company’s stock valued at $801,000 after buying an additional 1,178 shares in the last quarter.



Shares of NXST opened at $74.89 on Thursday. The company has a market cap of $3.29 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.78. Nexstar Media Group has a 12-month low of $60.30 and a 12-month high of $89.75. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.43 and a current ratio of 2.43.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Wednesday, August 8th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.14. The company had revenue of $660.30 million for the quarter, compared to the consensus estimate of $657.92 million. Nexstar Media Group had a return on equity of 17.28% and a net margin of 22.07%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. On average, equities analysts expect that Nexstar Media Group will post 8.05 EPS for the current 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 paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

Several research analysts have recently commented on NXST shares. Noble Financial downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. BidaskClub downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. B. Riley lifted their target price on Nexstar Media Group from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. ValuEngine raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. Finally, Stephens set a $94.00 target price on Nexstar Media Group and gave the company a “buy” rating in a research note on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Nexstar Media Group presently has a consensus rating of “Buy” and an average target price of $91.09.

About Nexstar Media Group

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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