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Andrew Alford, President of Broadcasting at Nexstar Media Group (NASDAQ:NXST), recently sold 3,768 shares of the company’s common stock. The transaction, which took place on March 26, 2025, was executed at an average price of $181.984 per share, totaling approximately $685,715. Following this sale, Alford retains ownership of 5,405 shares in the company. The sale comes as NXST trades near its 52-week high of $191.86, with the stock showing strong momentum and delivering a 17% return year-to-date. InvestingPro analysis indicates that management has been actively buying back shares, and the company appears undervalued based on their proprietary Fair Value model. For deeper insights into insider trading patterns and 14 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Nexstar Media Group reported fourth-quarter 2024 revenue and adjusted EBITDA figures that exceeded Wall Street’s expectations. This performance was highlighted by a significant reduction in operating losses at The CW network by $126 million over the year. Benchmark and Guggenheim analysts responded positively, raising their price targets for Nexstar to $225 and $220, respectively, while maintaining Buy ratings. Citi analysts, however, maintained a Neutral rating with a price target of $186, despite acknowledging the company’s strong financial outcomes.
Additionally, Nexstar announced that Dennis FitzSimons, a long-serving director, will not seek re-election at the upcoming annual stockholders’ meeting, marking a significant change in its boardroom. Meanwhile, Apollo Global Management (NYSE:APO) is exploring the sale of Cox Media Group, with Nexstar mentioned as a potential buyer, though no official comments have been made by the involved parties. These developments underscore Nexstar’s evolving strategic direction and the broader industry context of potential consolidation amidst challenges such as declining viewership and advertising revenue.
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