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Morgan Rachel, Executive Vice President and General Counsel at Nexstar Media Group, Inc. (NASDAQ:NXST), a media company currently valued at $5.2 billion and trading at an attractive P/E ratio of 8.6, recently executed several transactions involving the company’s stock, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimate. On May 27, Rachel sold 363 shares of Nexstar common stock at an average price of $173.593 per share, totaling approximately $63,014.
Prior to this, on May 23, Rachel acquired 1,500 shares of common stock through the vesting of restricted stock units (RSUs) and performance stock units (PSUs). These transactions were part of her compensation package, with RSUs and PSUs awarded in May 2024, vesting annually through May 2028.
The sale was conducted to cover tax withholding obligations related to the settlement of these vested RSUs and PSUs. Following the transactions, Rachel holds 1,137 shares of Nexstar common stock, which currently offers a notable 4.25% dividend yield. Discover more insights about NXST and access comprehensive analysis with InvestingPro’s detailed research report.
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 a forecast of $3.26. Revenue for the quarter was $1.23 billion, aligning with forecasts but reflecting a 3.9% decline from the previous year. Despite the drop in overall revenue, the company achieved a record first-quarter distribution revenue of $762 million. Advertising revenue, however, fell by 10.2%, highlighting ongoing challenges in the advertising market. Nexstar anticipates growth in distribution revenue and aims for the CW Network to achieve profitability by 2026. Analysts from The Benchmark Company and Wells Fargo (NYSE:WFC) discussed the company’s strategic focus and regulatory environment, emphasizing potential opportunities for mergers and acquisitions. The company remains optimistic about future prospects, including expanding sports programming and exploring new advertising models.
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