On a day that saw Nexstar Media Group join the NAB, ABC affiliates group members and two three radio station licensees in a legal challenge to the FCC’s local ownership rules, Nexstar shares soared to their highest levels since the end of January, closing just cents below its year-to-date high.
At Tuesday’s Closing Bell, Nexstar shares, which trade on the Nasdaq GlobalSelect market, were up 4.1% to $180.30.
That’s welcome news for Perry Sook, Lee Ann Gliha and the rest of the C-Suite, as “NXST” has risen by more than $30 per share since June 14 — the session where Nexstar stock reached a year-to-date low.
Earnings are due on August 8 for Nexstar, which bears a forward yield of 3.91% and a forward dividend of 6.76.
The company’s 1-year target price is at $205.
