Perella Weinberg Partners Capital Management Lp adds Media General Inc (MEG) to its portfolio

Media General Inc (MEG) : Perella Weinberg Partners Capital Management Lp added new position in Media General Inc during the most recent quarter end. The investment management firm now holds 114,220 shares of Media General Inc which is valued at $2,035,400 , the company said in a statement filed on Aug 15, 2016 with the SEC.Media General Inc makes up approximately 0.84% of Perella Weinberg Partners Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp reduced its stake in MEG by selling 17,224 shares or 23.13% in the most recent quarter. The Hedge Fund company now holds 57,241 shares of MEG which is valued at $1,020,035. Media General Inc makes up approx 0.01% of Susquehanna International Group Llp’s portfolio.Parametric Portfolio Associates boosted its stake in MEG in the latest quarter, The investment management firm added 10,360 additional shares and now holds a total of 55,293 shares of Media General Inc which is valued at $985,321.Visium Asset Management Lp reduced its stake in MEG by selling 771,597 shares or 86.68% in the most recent quarter. The Hedge Fund company now holds 118,607 shares of MEG which is valued at $2,113,577. Media General Inc makes up approx 0.21% of Visium Asset Management Lp’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in MEG in the latest quarter, The investment management firm added 156,065 additional shares and now holds a total of 2,525,376 shares of Media General Inc which is valued at $45,002,200. Media General Inc makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.Dimensional Fund Advisors Lp reduced its stake in MEG by selling 314 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 2,660,576 shares of MEG which is valued at $46,879,349. Media General Inc makes up approx 0.03% of Dimensional Fund Advisors Lp’s portfolio.

Media General Inc opened for trading at $17.7 and hit $17.84 on the upside on Thursday, eventually ending the session at $17.7, with a gain of 0.17% or 0.03 points. The heightened volatility saw the trading volume jump to 22,60,072 shares. Company has a market cap of $2,289 M.

On the company’s financial health, Media General Inc reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 5, 2016. Analyst had a consensus of $0.17. The company had revenue of $363.00 million for the quarter, compared to analysts expectations of $365.85 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

Media General Inc. formerly Mercury New Holdco Inc. is a connected-screen multimedia company. The Company provides news information and entertainment. The Company’s segment include Broadcast segment which has around 71 television stations that are either owned operated or serviced by the Company in around 48 United States markets all of which are engaged principally in the sale of television advertising and Digital segment which includes digital companies: LIN Digital LIN Mobile HYFN Inc. (HYFN) Dedicated Media Inc. (Dedicated Media) BiteSize TV and Federated Media as well as the business operations related to the television station companion Websites. LIN Digital provides display and video advertising. LIN Mobile provides mobile advertising. Federated Media provides display and video advertising. Dedicated Media provides marketing data focusing and analytics for digital marketing campaigns. HYFN is a digital agency. BiteSize TV is a video content creator.

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