U.S. financial markets finished Thursday’s trading on a down note, but that had no impact on the solid performance seen by Nexstar Media Group on Nasdaq.
The broadcast TV station owner’s shares soared 3.5%, to $67.05, on heavier-than-average volume of 720,324 shares; average volume is 597,082 shares.
The bump up for Nexstar shares is welcome news for the company founded by Perry Sook. The last 30 days have not been so great for NXST, which bottomed out at $62.35 on April 13.
On January 19, they were at $81.75.
However, long-term investors recognize that their shares are still worth more than they were in November.
On the other hand, Nexstar shares one year ago were valued at $69.10.
It is the five-year investor that understands the rise and dip and rise again of Nexstar shares, however: On March 14, 2014 they were valued at $37.52.
Across Wall Street:
- American Tower Corp. shares fell 1.7%, to $137.42, as news spread of a tower collapse in Missouri that claimed the life of one worker. American Tower is not involved in the incident.
- Beasley Media Group rose 2.2%, to $11.40, for its highest close since Feb. 26.
- Entercom retreated slightly with a 2.4% dip to $10.20.
- Sinclair Broadcast Group enjoyed a 4.3% gain, to $30.60, on reports the Department of Justice is just days away from giving the green light to the company’s acquisition of Tribune Media.
