Nexstar Media Group, Inc. (NASDAQ: ) CEO Perry Sook recently sold 35,205 shares of the company's common stock. The transaction, which took place on December 17, 2024, was executed at an average price of $162.13 per share, for total sales of approximately $5.7 million. Comes in the form of sales Investment Prof The data indicates Nexstar trades at an attractive P/E ratio of 9.07, with analysts setting price targets between $175-$220.

In addition to the sale, Sook exercised stock options the same day to acquire 35,205 shares at a price of $47.11 per share. Following these transactions, Sook directly owns 674,694 shares of Nexstar Media common stock. In addition, through PS Sook Limited, a family-owned entity, Sook indirectly holds 975,956 shares.

The moves come as part of routine financial management for the executive, whose leadership role includes both director and officer responsibilities at Nexstar Media.

In other recent news, Nexstar Media Group reported record third quarter net income of $1.37 billion, up 20.7% from last year. The increase in revenue was driven primarily by a substantial increase in political advertising revenue, which reached $491 million annually, and a significant increase in distribution revenue, reaching an all-time high of $719 million. The company managed to return $590 million to shareholders through dividends and share repurchases, while also reducing its debt by $146 million and shares outstanding by 6.3%.

Nexstar's diverse media platform, including 200 broadcast stations and the CW Network, has played a significant role in these recent developments. However, it is worth noting that the company experienced a 4.5% decline in non-political advertising and a decrease in national revenue. Despite these challenges, Nexstar secured significant accreditation renewals, including a deal with CBS for 42 markets, and expects future growth, particularly in political advertising and potential industry deregulation.

Analysts maintain a positive outlook for Nexstar, noting the company's successful programming strategies in sports and news, which led to The CW achieving record audiences. They also highlighted the company's focus on increasing shareholder value through integration and better local news reporting. However, lower dealer inventory and higher interest rates included a decline in the auto category. These are just some of the recent developments shaping Nexstar's financial landscape.

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