U.S. financial markets enjoyed widespread gains on Monday. But, not every media company took part in the upward activity. TEGNA, which released its Q4 and full-year 2020 results early Monday, saw its shares decline.
Radio broadcasting company Townsquare Media, which will report its Q4 and full-year 2020 results in two weeks, was also down from Friday.
For TEGNA, shares slipped 18 cents to $18.05 after recently reaching a six-year high.
TSQ, meanwhile, dipped by 20 cents to $10.70. The stock has also been on the rise in recent months.
Key gainers include radio pure-play Saga Communications, up $2.12 to $22.80 in one of its biggest single-say sessions in recent memory. Activity picked up in the afternoon hours, with trading more than four times its average volume.
Radio sector leader iHeartMedia shares now sit at $15, up 93 cents; Entercom shares grew to $4.80, rising 33 cents.
Meanwhile, Nexstar Media Group sits at an incredible $144.21, up $6.66 from Friday. And, Sinclair Broadcast Group is now at $32.65 thanks to a $1.72 gain.