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Pre-Paid Legal Clears Base On Huge Trade.(B)
Byline: Jonah Keri
Westwood One has failed to break through resistance around 40 since March, forming an eight-month base. The stock has flashed more down weeks on higher volume than up weeks, a possible red flag. It's 3% off its high.
The nationwide producer and distributor of radio programming has bounced back from a rough 2001. Sales have hit single-digit growth after slowing through most of last year. Profit growth has rebounded more dramatically, at 300%, 33% and 178% in the last three quarters.
Institutions have raised their interest in Westwood One. A total of 284 funds owned 34 million shares last quarter vs. ...
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