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Andrew Alford, President of Broadcasting at Nexstar Media Group (NASDAQ:NXST), a $5 billion market cap media company currently trading below its InvestingPro Fair Value, recently executed a series of stock transactions involving the company’s common stock. On June 4, Alford sold 751 shares at an average price of $167.248 per share, totaling $125,603. This sale was conducted to cover tax withholding obligations related to the settlement of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) that vested on June 3. The stock, which offers a 4.5% dividend yield and has maintained dividend payments for 13 consecutive years, currently trades at an attractive P/E ratio of 8.2x.
In addition to the sale, Alford acquired a total of 1,874 shares of common stock at no cost, as part of the vesting of RSUs and PSUs. Following these transactions, Alford holds 9,411 shares directly. These moves reflect routine financial management activities by the executive. Discover more insider trading patterns and 12+ additional key insights with a InvestingPro subscription, including the company’s comprehensive Pro 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 the forecasted $3.26. The company’s revenue aligned with projections at $1.23 billion, although it marked a 3.9% decline year-over-year. Advertising revenue experienced a 10.2% drop, while distribution revenue saw a slight increase, highlighting challenges in the advertising market. Despite these hurdles, Nexstar maintained strong operational control, as shown by reduced corporate expenses and capital expenditures. Analysts from various firms noted the company’s strategic focus on expanding sports programming and exploring new advertising models as a positive step forward. The company also anticipates growth in distribution revenue and aims for the CW Network to achieve profitability by 2026. Nexstar’s outstanding debt stood at $6.5 billion, with a cash balance of $253 million. The company continues to prioritize deregulation and potential mergers and acquisitions as part of its strategic agenda.
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