Capital Management Corp recently disclosed in a U.S. Securities and Exchange Commission filing that it sold 29,799 shares of Nexstar Media Group, totaling an estimated $5.82 million trade based on quarterly average pricing. The company ended the period with 127,651 shares, representing 4.25% of the fund’s $610.07 million in reportable U.S. equity assets. Nexstar shares were priced at $212.38 as of January 30, up 41.1% over the past year. The company operates television stations, digital media properties, and a national cable network, generating revenue primarily from advertising and retransmission fees.

In its most recent quarterly release, Nexstar reported $1.20 billion in revenue, down 12% year over year, with net income of $65 million and adjusted EBITDA of $358 million. Despite the decrease, Nexstar remains a top-five holding at just over 4% of assets, alongside other media and communications names. The company’s solid financial performance reflects its position in the media landscape and potential for growth in the upcoming political advertising cycle.

Read more at Yahoo Finance: What Investors Should Know About This $6 Million Sale of a Media Stock Up 41% in One Year