Investors Purchase Large Volume of Call Options on Nexstar Media Group (NXST)

Nexstar Media Group Inc (NASDAQ:NXST) was the target of some unusual options trading activity on Thursday. Traders bought 3,232 call options on the stock. This is an increase of 1,610% compared to the average volume of 189 call options.

In related news, insider Brian Jones sold 35,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $108.31, for a total value of $3,790,850.00. Following the sale, the insider now directly owns 52,734 shares of the company’s stock, valued at approximately $5,711,619.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Miller sold 3,125 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $72.31, for a total transaction of $225,968.75. The disclosure for this sale can be found here. Insiders sold a total of 48,573 shares of company stock worth $5,142,132 over the last ninety days. 6.40% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of NXST. Windacre Partnership LLC increased its stake in shares of Nexstar Media Group by 92.2% during the 4th quarter. Windacre Partnership LLC now owns 2,524,900 shares of the company’s stock worth $198,558,000 after purchasing an additional 1,210,900 shares during the last quarter. Baupost Group LLC MA acquired a new position in shares of Nexstar Media Group during the 4th quarter worth about $74,708,000. FMR LLC increased its stake in shares of Nexstar Media Group by 29.7% during the 4th quarter. FMR LLC now owns 2,470,878 shares of the company’s stock worth $194,310,000 after purchasing an additional 565,758 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Nexstar Media Group by 855.1% during the 1st quarter. Renaissance Technologies LLC now owns 509,105 shares of the company’s stock worth $55,172,000 after purchasing an additional 455,800 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Nexstar Media Group during the 4th quarter worth about $32,936,000.

Several equities research analysts recently commented on NXST shares. ValuEngine raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. BidaskClub lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Barrington Research reiterated a “buy” rating and issued a $110.00 price target on shares of Nexstar Media Group in a research note on Tuesday, February 26th. B. Riley lifted their price target on shares of Nexstar Media Group from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 21st. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Nexstar Media Group has a consensus rating of “Buy” and a consensus target price of $113.13.

Shares of NXST stock opened at $104.31 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.00. Nexstar Media Group has a 1 year low of $65.20 and a 1 year high of $119.93. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.65 and a beta of 1.58.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.02). Nexstar Media Group had a net margin of 14.26% and a return on equity of 23.08%. The business had revenue of $626.65 million during the quarter, compared to analyst estimates of $640.35 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Research analysts expect that Nexstar Media Group will post 6.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.80 annualized dividend and a yield of 1.73%. Nexstar Media Group’s payout ratio is currently 21.08%.

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Nexstar Media Group Company Profile

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

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