Long Position on NXST @ $88.00 on 12/4/2018 (Momentum)

Nexstar Media Group, Inc. (NXST) 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.

It also provides sales, programming, and other services through various local service agreements to 36 power television stations owned and/or operated by independent third parties.

As of December 31, 2017, the company owned, operated, programmed, or provided sales and other services to 170 television stations in 100 markets in the states of Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nevada, New Mexico, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia, and Wisconsin. The company's stations reach approximately 43.6 million viewers. 

The company announced on Monday that is acquiring Tribune Media (TRCO) for $6.4 billion (inclusive of debt). Investors approved the deal by bidding up shaares of NXST by 6.8% Shares now have broken out of a trading range and are expected to continue to move higher.

Entry Point: $88.00

Stop Loss: $83.60

Trading Range: $60.30 - $89.75

Target Price: $96.80

Updates

2/21/2019 10:41:23 AM

NXST closed at $91.30

Position closed on 2/21/2019 at price of $91.30 with a 3.75% gain in 79 days.

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