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Blake Russell, the Executive Vice President of Operations at Nexstar Media Group (NASDAQ:NXST), a $5.2 billion media company currently trading at an attractive P/E ratio of 8.6, recently sold a portion of his shares in the company. According to a recent filing, Russell sold 362 shares of common stock on May 27, 2025, at a price of $173.593 per share, amounting to a total transaction value of $62,840. InvestingPro analysis indicates the stock is currently undervalued, with a strong financial health score of "GREAT."
Earlier, on May 23, 2025, Russell acquired 1,500 shares of common stock through the vesting of restricted stock units (RSUs) and performance stock units (PSUs). These acquisitions were executed at no cost as part of his compensation package. Following these transactions, Russell holds 23,033 shares in the company.
The sale of shares was conducted to cover tax withholding obligations related to the vesting of these RSUs and PSUs.
In other recent news, Nexstar Media Group reported its Q1 2025 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $3.37, compared to the forecasted $3.26. Revenue for the quarter stood at $1.23 billion, aligning with projections but reflecting a 3.9% decline year-over-year. Advertising revenue saw a notable decrease of 10.2%, while distribution revenue experienced a slight increase, contributing to Nexstar’s mixed financial performance. Despite these challenges, the company maintained strong operational control, as evidenced by reduced corporate expenses and capital expenditures.
Nexstar anticipates future growth in distribution revenue and aims for profitability for the CW Network by 2026. The company is also preparing for a potential recovery in the advertising market in the latter half of 2025. Analysts from firms like The Benchmark Company and Wells Fargo (NYSE:WFC) discussed potential regulatory changes and their implications for Nexstar’s strategic positioning. Meanwhile, Nexstar’s management expressed confidence in their ability to navigate current market challenges and capitalize on opportunities, particularly in expanding sports programming and exploring new advertising models. These developments highlight Nexstar’s strategic focus and adaptability in a competitive media landscape.
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