Lisbeth McNabb, a director at Nexstar Media Group (NASDAQ:NXST), a media company currently valued at $5.2 billion and showing strong financial health according to InvestingPro analysis, recently sold 875 shares of the company's common stock. The transaction, which took place on December 9, involved shares sold at a price of $172 each, amounting to a total value of $150,500. Following this sale, McNabb retains ownership of 5,752 shares in the company. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission. The company maintains strong fundamentals with a P/E ratio of 9.7 and has consistently raised its dividend for 12 consecutive years. For deeper insights into insider trading patterns and access to 10+ additional ProTips, including management's share buyback activities, visit InvestingPro.
"In other recent news, Nexstar Media Group reported a record-setting third-quarter net revenue of $1.37 billion, marking a 20.7% increase from the previous year. This growth was largely driven by a surge in political advertising revenue and a notable increase in distribution revenue. The company also returned a significant $590 million to shareholders and managed to reduce its debt by $146 million. Despite a 4.5% decline in nonpolitical advertising, Nexstar remains optimistic about future growth, particularly in political advertising and potential industry deregulation. Analysts from various firms have highlighted the company's diversified media platform, including 200 broadcast stations and The CW network. They also noted Nexstar's successful programming strategies in sports and news, with The CW achieving record audiences. These are some of the recent developments that have shaped Nexstar's financial landscape."
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