Gary Weitman, serving as the Executive Vice President and Chief Communications Officer at Nexstar Media Group, Inc. (NASDAQ:NXST), executed a transaction to sell 194 shares of the company’s common stock on June 12, 2026. The total value of the transaction was $33,795, with the shares disposed of at a price of $174.2055 per share. This specific sale was undertaken to cover tax withholding obligations related to the settlement of performance-based restricted stock units that vested on June 10, 2026. Following the completion of this transaction, Mr. Weitman directly holds 6,568 shares of Nexstar Media Group common stock.
The execution of this sale occurs as Nexstar shares trade at $172.19, a price point that sits near the company's 52-week low of $164. This current valuation marks a significant downward trajectory from the stock's 52-week high of $254.30. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value. The company maintains a dividend yield of 4.26% and has raised its dividend for 13 consecutive years, one of 11+ InvestingPro Tips available to subscribers, alongside a comprehensive Pro Research Report covering the company’s financial health and outlook.
In other recent news, Nexstar Media Group Inc. reported strong financial results for the first quarter of 2026, exceeding Wall Street expectations. The company achieved an earnings per share of $5.09, surpassing the anticipated $4.45, and generated revenue of $1.4 billion, which was higher than the forecasted $1.26 billion. This performance was attributed to strategic growth and the successful integration of Tegna operations.
Additionally, Nexstar announced the promotion of four executives across its government relations, human resources, and legal departments. Elizabeth Ryder was appointed Executive Vice President, General Counsel, and Secretary to the company’s Board of Directors. Meanwhile, TEGNA Inc. appointed Patrick Paolini as Chief Executive Officer, effective June 1. Paolini, who previously served at FOX Television Stations, will oversee TEGNA’s daily operations and growth initiatives. These developments highlight significant leadership changes and financial achievements within both companies.