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

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Nexstar Media Group Inc (NASDAQ:NXST) saw unusually large options trading activity on Monday. Stock investors bought 558 call options on the company. This represents an increase of approximately 786% compared to the typical daily volume of 63 call options.

In related news, Director Jay M. Grossman sold 3,125 shares of Nexstar Media Group stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $80.66, for a total value of $252,062.50. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $4,033,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.40% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in NXST. Penserra Capital Management LLC bought a new stake in shares of Nexstar Media Group during the 4th quarter valued at about $28,000. Bank of Montreal Can boosted its stake in shares of Nexstar Media Group by 35.4% during the 4th quarter. Bank of Montreal Can now owns 1,228 shares of the company’s stock valued at $96,000 after purchasing an additional 321 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Nexstar Media Group during the 4th quarter valued at about $157,000. Engineers Gate Manager LP bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $204,000. Finally, Parametrica Management Ltd bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $205,000.

Shares of Nexstar Media Group stock opened at $85.47 on Tuesday. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.24 and a beta of 1.41. 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 2.34, a quick ratio of 2.09 and a current ratio of 2.09.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Friday, February 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, February 7th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.38. Nexstar Media Group’s dividend payout ratio (DPR) is 45.23%.

A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Saturday, November 17th. BidaskClub cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 28th. Wolfe Research assumed coverage on shares of Nexstar Media Group in a research report on Friday, December 7th. They issued an “outperform” rating on the stock. Stephens lifted their target price on shares of Nexstar Media Group from $94.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 4th. Finally, Barrington Research reissued a “buy” rating on shares of Nexstar Media Group in a report on Monday, December 3rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $102.89.

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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. 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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