Broadcasting Stocks

Veritone, known by radio and TV industry C-Suiters as a provider cloud-based AI analytics and cognitive solutions, has closed its underwritten public offering. The stock offering, clearly designed to give Veritone more cash with which to operate, was met with a largely negative reaction from its stockholders.

With Tuesday's Closing Bell on the NasdaqGS exchange, The E.W. Scripps Co. enjoyed a 2% gain. It's another slow and steady improvement from May 3, when SSP shares hit a recent low. And, it comes as Scripps begins to restructure itself as a media company free of any radio stations in its holdings.

Broadcast media stocks were largely swept up in a red tide on Monday as the Dow Jones Industrial Average slid 1.3%, and Nasdaq was down 2%. That's not to say there weren't improvements: Townsquare Media climbed 7.4%, and there's a clear reason why this gain was seen.

U.S. financial markets were divergent on Friday, as the Dow Jones Industrial Average improved 119.19 points, to 24,580.89. However, Nasdaq was down 20.14, to 7692.82. The mixed activity carried over to media issues.

Artificial Intelligence-powered media attribution and analytics company Veritone Inc. has certainly seen roller-coaster like activity for its stock since an IPO in mid-May 2017. Now, the up and down activity for VERI shares has gone into a canyon again.

There was a lot of mixed action for broadcast media stocks on Wednesday. Companies including CBS Corp., Emmis Communications and Nexstar Media Group are hot. Companies such as iHeartMedia and Salem Media Group are not. Here's the lowdown on just how high, and low, these media stocks could go.

It's been an incredible June for a broadcast TV station company with its roots in the Scranton-Wilkes Barre market. Nexstar Media Group's shares have soared by more than $10 a share since June 5. If the growth continues, a new all-time high could be seen in a matter of days.

Here's a bit of news that's a long time coming: shares for the nation's second-largest radio broadcasting company by number of stations improved 3.5% in Monday's trading — to $15. Volume was scant, however, at just 132 shares traded. What other ups and downs were seen on Wall Street? iHeart is down on more bankruptcy-related news.

The continued strong performance of Emmis Communications makes it one of the strongest performers among publicly traded media companies for the first half of 2018. Credit company head Jeff Smulyan for trimming the company's holdings following an unsuccessful privatization effort launched in August 2016.

Cumulus Media on Wednesday quietly initiated trading on the OTC exchange under the ticker symbol "CMIA," and saw volume of 50,000 shares traded. The value of Cumulus' new shares is significantly higher than as "CMLSQ," which was a penny stock now written off to the history books.

With Comcast, 21st Century Fox, Disney, Time Warner and AT&T dominating the headlines today, how did broadcast media stocks fare on Wall Street? The market was decidedly mixed, with Nexstar again enjoying a growth spurt while Townsquare Media was down again.

On June 4, Townsquare Media's stock fell to an all-time low. Since then, the media company's shares have been on the rebound — until today. On heavier than average volume, TSQ was back in the red, and heading in the wrong direction.

Nexstar Media Group shares have seen a steady rebound since bottoming out on May 3 at $61.20. With Monday's market close, NXST is back where it was in late February, and within $10 of its all-time high.

With the addition of CBS Radio, all eyes are on Entercom as the company continues to fully integrate a host of high-profile properties into its operation. With a shaky Q1, ETM shares dipped significantly on Wall Street. Now, they've started a rebound — just in time for Tuesday's commencement of ex-dividend trading.

One highly influential Wall Street financial house on Monday put this conservative and Christian-themed media company under the microscope to see if it indeed has low PEs, solid outlooks, and decent dividends. "Fortunately for investors looking for this combination, we have identified a strong candidate which may be an impressive value," Zacks declares.