Today’s Market Runner: What’s in Media General Inc After Today’s Huge Decline?

Today's Market Runner: What's in Media General Inc After Today's Huge Decline?

The stock of Media General Inc (NYSE:MEG) is a huge mover today! About 906,611 shares traded hands. Media General Inc (NYSE:MEG) has risen 5.75% since March 11, 2016 and is uptrending. It has outperformed by 0.29% the S&P500.
The move comes after 8 months negative chart setup for the $2.32B company. It was reported on Oct, 14 by Barchart.com. We have $16.84 PT which if reached, will make NYSE:MEG worth $139.20 million less.

Analysts await Media General Inc (NYSE:MEG) to report earnings on November, 3. They expect $0.35 EPS, up 1,066.67% or $0.32 from last year’s $0.03 per share. MEG’s profit will be $45.34 million for 12.79 P/E if the $0.35 EPS becomes a reality. After $0.14 actual EPS reported by Media General Inc for the previous quarter, Wall Street now forecasts 150.00% EPS growth.

Media General Inc (NYSE:MEG) Ratings Coverage

Out of 4 analysts covering Media General (NYSE:MEG), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Media General has been the topic of 7 analyst reports since August 7, 2015 according to StockzIntelligence Inc. On Friday, November 6 the stock rating was maintained by Benchmark with “Buy”. The rating was downgraded by Wedbush to “Neutral” on Monday, October 12. On Friday, January 8 the stock rating was downgraded by Gabelli to “Hold”. The firm has “Equal-Weight” rating given on Wednesday, November 18 by Stephens.

According to Zacks Investment Research, “Media General, Inc. operates as a television broadcasting and digital media company. The Company offers consumers and advertisers with entertainment and information, content and distribution on every screen. It has the diverse digital media business with a portfolio that includes LIN Digital, LIN Mobile, HYFN, Dedicated Media, Federated Media and BiteSizeTV. The company’s broadcast operations include network-affiliated television stations and their associated digital and mobile media services. Media General, Inc. is headquartered in Richmond, Virginia.”

Insitutional Activity: The institutional sentiment increased to 1.28 in Q2 2016. Its up 0.10, from 1.18 in 2016Q1. The ratio improved, as 21 funds sold all Media General Inc shares owned while 39 reduced positions. 19 funds bought stakes while 58 increased positions. They now own 117.34 million shares or 4.06% less from 122.30 million shares in 2016Q1.
Vertex One Asset Mgmt has 0.76% invested in the company for 274,081 shares. Barclays Public Ltd last reported 134,747 shares in the company. Amalgamated Retail Bank reported 11,909 shares or 0.01% of all its holdings. The New York-based Gamco Et Al has invested 0.57% in Media General Inc (NYSE:MEG). Stifel last reported 0% of its portfolio in the stock. Morgan Stanley holds 0% or 637,174 shares in its portfolio. Marshall Wace Ltd Liability Partnership reported 86,870 shares or 0.01% of all its holdings. Tig Advisors Ltd Llc has 3.75% invested in the company for 2.49M shares. Gabelli Funds Limited Liability Company has invested 0.3% of its portfolio in Media General Inc (NYSE:MEG). Geode Cap Ltd Limited Liability Company last reported 0.01% of its portfolio in the stock. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Media General Inc (NYSE:MEG) for 2,077 shares. The Texas-based Teacher Retirement Of Texas has invested 0% in Media General Inc (NYSE:MEG). Metropolitan Life Ins Ny holds 0.01% of its portfolio in Media General Inc (NYSE:MEG) for 78,999 shares. Citigroup holds 0% or 54,366 shares in its portfolio. Tiaa Cref Investment Management Lc has 0.01% invested in the company for 471,919 shares.

Insider Transactions: Since June 10, 2016, the stock had 0 buys, and 3 insider sales for $56.93 million net activity. 3.14 million shares were sold by Standard General L.P., worth $55.38M on Tuesday, September 6. The insider MCDERMOTT DEBORAH A sold $71,600. The insider MUSE JOHN R sold 83,500 shares worth $1.48 million.

MEG Company Profile

Media General, Inc., formerly Mercury New Holdco, Inc., incorporated on March 19, 2014, is a connected-screen multimedia company. The Firm provides news, information and entertainment. The Company’s operating divisions include Broadcast and Digital. The Company’s Broadcast segment includes over 70 television stations that are either owned, operated or serviced by the Company in approximately 48 United States markets, all of which are engaged principally in the sale of television advertising. The Company’s Digital segment includes the operating results of the Company’s digital businesses, as well as the business related to the television station companion Websites. Digital segment includes LIN Digital, LIN Mobile, LLC (LIN Mobile), HYFN, Inc. (HYFN), Dedicated Media, Inc. (Dedicated Media), BiteSize TV and Federated Media, as well as the business related to the television station companion Websites.

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