The cluster is too small relative to market cap to warrant a bearish read. Monitor for any material corporate event (earnings, M&A, guidance change) that could explain the timing, but on its own this is routine portfolio activity. The cross-filing actuarial verdicts show all context pairs as amplifiers, but none are triggered here because no earnings, offering, restatement, or late-filing context is present — the cluster stands alone.
Price Chart
Executive Summary
Nine Nexstar insiders, including the President & COO, CFO, and three divisional presidents, sold a total of ~$1.11M in open-market transactions over a 7-day window. The cluster is broad-based across C-suite and senior leadership, but the total dollar value represents only ~0.02% of Nexstar's $5.3B market cap, well below the 0.1% materiality threshold. Per the academic literature, cluster sales are weak predictors of future returns and are likely driven by routine portfolio diversification or tax planning rather than a shared bearish view.
Key Financial Metrics
Key Facts
- 9 insiders sold shares in open-market transactions totaling ~$1.11M
- Total sales represent ~0.02% of NXST's $5.3B market cap — trivial relative to company size
- President & COO Michael Biard sold $214K; CFO Lee Ann Gliha sold $133K
- Three divisional presidents (Broadcasting, Networks, and one other) each sold $137K-$161K
- One director (McMillen) sold $180K; one insider (Weitman) also exercised 750 derivative shares at $0 (non-cash) before selling 194 shares
- All sales were open-market; no 10b5-1 plan designation noted in the filing data
- Prior 30-day insider activity showed 8 sells totaling $926K — this cluster is a continuation of a routine selling pattern
Financial Impact
~$1.11M in insider sales, 0.02% of market cap — immaterial
Risk Factors
- If a material negative event (e.g., earnings miss, regulatory action) emerges in the next 30 days, this cluster could be viewed as informed selling in hindsight
- Continued insider selling at similar pace could signal lack of conviction in near-term outlook
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NXST-1781533886213 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $167.34 | awaiting T+20 | — | $164.75 (−1.55%) |
Oct 13, 2026 13d ago | Press Release | $160.56 | awaiting T+20 | — | $164.75 (+2.61%) |
Aug 24, 2026 9w ago | Insider Cluster | $189.39 $165.57 | ▼ −12.58% | ▼ −12.83% | $164.75 (−13.01%) |
Aug 17, 2026 10w ago | Court Ruling | $182.57 $163.67 | ▼ −10.35% | ▼ −8.61% | $164.75 (−9.76%) |
Aug 6, 2026 11w ago | 8-K | $187.97 $177.67 | ▼ −5.48% | ▼ −6.08% | $164.75 (−12.35%) |
Aug 3, 2026 12w ago | 8-K | $192.49 $181.14 | ▼ −5.90% | ▼ −7.14% | $164.75 (−14.41%) |
Jun 30, 2026 17w ago | Court Ruling | $178.59 $185.80 | ▲ +4.04% | ▲ +5.07% | $164.75 (−7.75%) |
Jun 29, 2026 17w ago | Insider Buy | $170.73 $183.31 | ▲ +7.37% | ▲ +7.65% | $164.75 (−3.50%) |
Jun 16, 2026 18w ago | 8-K | $172.11 $175.56 | ▲ +2.00% | ▲ +1.80% | $164.75 (−4.28%) |
Jun 15, 2026 19w ago | Insider Cluster | $172.29 $175.46 | ▲ +1.84% | ▲ +2.59% | $164.75 (−4.38%) |
US Market Status
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