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Nexstar Media Group, Inc. (NASDAQ:NXST), a media company currently trading below its InvestingPro Fair Value with strong financial health metrics, has reported insider selling by CEO Perry A. Sook, according to a recent SEC filing. On March 4, Sook sold 32,096 shares at an average price of $170.67, totaling approximately $5.48 million. The following day, March 5, he sold an additional 32,824 shares at an average price of $168.66, bringing in about $5.54 million. These transactions were made to cover tax withholding obligations related to the vesting of restricted stock units. The company maintains a robust 4.4% dividend yield and has raised dividends for 12 consecutive years. After these sales, Sook directly owns 773,195 shares of Nexstar Media, with an additional 975,956 shares held indirectly through PS Sook Ltd., where he and his spouse are beneficial owners. For comprehensive insider trading analysis and additional metrics, access the detailed Pro Research Report available on InvestingPro, covering over 1,400 US stocks.
In other recent news, Nexstar Media Group reported its fourth-quarter 2024 earnings, revealing a record full-year revenue of $5.4 billion. Despite missing the EPS forecast of $8.41 with an actual EPS of $7.56, the company’s strategic initiatives and operational improvements have bolstered investor confidence. Nexstar’s adjusted EBITDA for the fourth quarter reached $628 million, surpassing Guggenheim’s estimates and contributing to a revised 2025 EBITDA expectation of $1.542 billion. The company has also provided guidance for 2025, projecting an EBITDA range between $1.500 billion and $1.595 billion. Analyst firms have responded positively, with Benchmark raising Nexstar’s stock target to $225 and Guggenheim adjusting its target to $220, both maintaining a Buy rating. The upgrades reflect confidence in Nexstar’s strategic initiatives and the positive impact of recent performance trends on its long-term financial outlook. Additionally, Nexstar has made significant strides in reducing losses at The CW network, with plans to achieve profitability by 2026. These developments underscore Nexstar’s strong position in political advertising and its continued focus on mergers and acquisitions opportunities.
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