The New Frazier Meredith D Mell Holding in Meredith Corp
Frazier Meredith D Mell filed with the SEC SC 13D/A form for Meredith Corp. The form can be accessed here: 000091476016000496. As reported in Frazier Meredith D Mell’s form, the filler as of late owns 7.6% or 752,680 shares of the Consumer Discretionary–company.
Meredith Corp stake is a new one for the and it was filed because of activity on November 25, 2016. We feel this shows Frazier Meredith D Mell’s positive view for the stock.
Meredith Corp Institutional Sentiment
Latest Security and Exchange filings show 197 investors own Meredith Corp. The institutional ownership in Q3 2015 is high, at 79.93% of the outstanding shares. This is decreased by 4991290 the total institutional shares. 31397903 were the shares owned by these institutional investors. In total 37 funds opened new Meredith Corp stakes, 83 increased stakes. There were 42 that closed positions and 54 reduced them.
Channing Capital Management Llc is an institutional investor bullish on Meredith Corp, owning 875749 shares as of Q3 2015 for 1.82% of its portfolio. Sphinx Trading Lp owns 6800 shares or 0.30% of its portfolio. TX Wallace Capital Management Inc have 2.03% of their stock portfolio for 260768 shares. Further, Tealwood Asset Management Inc reported stake worth 1.81% of its US stock portfolio. The NY Kellner Capital Llc owns 234500 shares. Meredith Corp is 5.24% of the manager’s US portfolio.
Meredith Corporation is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations. Its National Media segment includes magazine publishing, custom content and customer relationship marketing, digital and mobile media, brand licensing, database-related activities, and other related operations. Its National Media segment focuses on the food, home, parenthood, and health markets and is a publisher of magazines serving women. As of June 30, 2016, the Company’s owned television stations consist of seven CBS affiliates, five FOX affiliates, two MyNetworkTV affiliates, one NBC affiliate, one ABC affiliate and one independent station. The National Media segment also focuses on run-of-press display advertising.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment decreased to 1.01 in 2016 Q2. Its down 1.07, from 2.08 in 2016Q1. The ratio dived, as 10 funds sold all Meredith Corporation shares owned while 51 reduced positions. 38 funds bought stakes while 89 increased positions. They now own 35.88 million shares or 4.87% more from 34.22 million shares in 2016Q1.
Pacad Invest Limited last reported 0.03% of its portfolio in the stock. Wealthtrust holds 0% of its portfolio in Meredith Corporation (NYSE:MDP) for 52 shares. The Germany-based Allianz Asset Ag has invested 0.03% in Meredith Corporation (NYSE:MDP). Proshare Advisors Limited Liability Com has invested 0.06% of its portfolio in Meredith Corporation (NYSE:MDP). Axa accumulated 6,900 shares or 0% of the stock. Huntington Bancorp, a Ohio-based fund reported 39 shares. Iowa State Bank holds 0.26% or 11,302 shares in its portfolio. Meeder Asset Management last reported 0.07% of its portfolio in the stock. Millennium Mngmt Ltd has invested 0.01% of its portfolio in Meredith Corporation (NYSE:MDP). Bnp Paribas Arbitrage Sa last reported 26,092 shares in the company. Moreover, Hancock has 0.09% invested in Meredith Corporation (NYSE:MDP) for 42,900 shares. Clark Capital Management Group Inc Inc owns 11,323 shares or 0.04% of their US portfolio. Fort Lp reported 177,249 shares or 3.76% of all its holdings. Barrow Hanley Mewhinney Strauss Limited Com has invested 0.17% of its portfolio in Meredith Corporation (NYSE:MDP). Park National Corp Oh, a Ohio-based fund reported 4,450 shares.
Insider Transactions: Since June 10, 2016, the stock had 2 buys, and 9 sales for $5.74 million net activity. Ceryanec Joseph H had sold 9,145 shares worth $494,076. 998 Meredith Corporation (NYSE:MDP) shares with value of $51,896 were sold by HENRY FREDERICK B. Another trade for 1,206 shares valued at $66,330 was made by ZIESER JOHN S on Thursday, August 18. $1.36 million worth of Meredith Corporation (NYSE:MDP) was sold by KARPOWICZ PAUL. On Friday, June 10 the insider MEREDITH KATHERINE C sold $1.60 million. LACY STEPHEN M also sold $2.51M worth of Meredith Corporation (NYSE:MDP) on Monday, August 1. 15,628 shares were bought by MEREDITH EDWIN T IV, worth $800,701 on Friday, June 10.
Analysts await Meredith Corporation (NYSE:MDP) to report earnings on January, 25. They expect $1.21 earnings per share, up 51.25% or $0.41 from last year’s $0.8 per share. MDP’s profit will be $54.14M for 11.50 P/E if the $1.21 EPS becomes a reality. After $0.75 actual earnings per share reported by Meredith Corporation for the previous quarter, Wall Street now forecasts 61.33% EPS growth.
About 129,619 shares traded hands. Meredith Corporation (NYSE:MDP) has risen 14.70% since April 27, 2016 and is uptrending. It has outperformed by 9.47% the S&P500.
Meredith Corporation is a diversified media company. The company has a market cap of $2.49 billion. The Firm is focused primarily on the home and family marketplace. It has a 45.68 P/E ratio. The Firm operates through two divisions: Local Media and National Media.
Meredith Corporation (NYSE:MDP) Ratings Coverage
Out of 5 analysts covering Meredith Corporation (NYSE:MDP), 1 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 20% are positive. $62 is the highest target while $40 is the lowest. The $49 average target is -11.95% below today’s ($55.65) stock price. Meredith Corporation has been the topic of 9 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Tuesday, July 21, the company rating was initiated by Jefferies. The stock of Meredith Corporation (NYSE:MDP) has “Hold” rating given on Wednesday, December 16 by Gabelli. The firm earned “Buy” rating on Friday, July 29 by Benchmark. As per Wednesday, November 18, the company rating was initiated by Stephens. Zacks upgraded the stock to “Hold” rating in Monday, September 21 report.
More notable recent Meredith Corporation (NYSE:MDP) news were published by: Nypost.com which released: “Meredith Corp. may bid against billionaire trio for Time Inc.” on November 30, 2016, also Desmoinesregister.com with their article: “Meredith Corp. gets $60M for ending merger deal” published on January 27, 2016, Nypost.com published: “Meredith’s More magazine is no more after April” on February 25, 2016. More interesting news about Meredith Corporation (NYSE:MDP) were released by: Prnewswire.com and their article: “Meredith Corporation And Can Manufacturers Institute Join To Show Women The …” published on July 21, 2016 as well as Businesswire.com‘s news article titled: “Social News Desk Chosen by Meredith Corporation as Enterprise Social Media Partner” with publication date: November 28, 2016.
According to Zacks Investment Research, “Meredith Corp. has two business segments: publishing and broadcasting. The publishing segment includes magazine and book publishing, integrated marketing, interactive media, brand licensing, and other related operations. The broadcasting segment includes the operations of network-affiliated television stations and syndicated television program marketing and development. Virtually all of the company’s revenues are generated and assets reside within the United States.”
MDP Company Profile
Meredith Corporation, incorporated on August 09, 1905, is a diversified media company. The Firm is focused primarily on the home and family marketplace. The Firm operates through two divisions: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations. The Company’s National Media segment includes magazine publishing, custom content and customer relationship marketing, digital and mobile media, brand licensing, database-related activities, and other related operations.
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