The CEO & President of Nexstar (NASDAQ: NXST) is Buying Shares

By Carrie Williams

Today, the CEO & President of Nexstar (NASDAQ: NXST), Perry Sook, bought shares of NXST for $1.37M.

Following this transaction Perry Sook’s holding in the company was increased by 29.87% to a total of $65.94 million. Following Perry Sook’s last NXST Buy transaction on January 17, 2017, the stock climbed by 5.3%.

Based on Nexstar’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $612 million and quarterly net profit of $46.48 million. In comparison, last year the company earned revenue of $276 million and had a net profit of $24.8 million. The company has a one-year high of $73.90 and a one-year low of $55.95. NXST’s market cap is $2.99B and the company has a P/E ratio of 24.68.

Starting in June 2014, NXST received 58 Buy ratings in a row. 12 different firms, including B.Riley FBR and Barrington, currently also have a Buy rating on the stock. Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $83, reflecting a -22.2% downside.

In the last 30 days, insiders have sold $19.85M worth of NXST shares and purchased $1.37M worth of NXST shares. The insider sentiment on Nexstar has been negative according to 31 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Perry Sook’s trades have generated a 17.7% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Nexstar Media Group, Inc. is a television broadcasting and digital media company, which focuses on the acquisition, development and operation of television stations and interactive community websites & digital media services in the United States. The company provides services free over-the-air programming which includes programs produced by networks with which the stations are affiliated; programs that the stations produce; and first-run and rerun syndicated programs that the stations acquire. It also provides digital publishing and content management platforms to media publishers and advertisers. Nexstar Media Group was founded by Perry A. Sook in 1996 and is headquartered in Irving, TX.