Meredith Corporation (MDP) : Wallace Capital Management reduced its stake in Meredith Corporation by 2.47% during the most recent quarter end. The investment management company now holds a total of 252,969 shares of Meredith Corporation which is valued at $13,500,956 after selling 6,395 shares in Meredith Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Meredith Corporation makes up approximately 2.25% of Wallace Capital Management’s portfolio.
Other Hedge Funds, Including , Bluecrest Capital Management Ltd sold out all of its stake in MDP during the most recent quarter. The investment firm sold 7,533 shares of MDP which is valued $402,036. Delphi Private Advisors added MDP to its portfolio by purchasing 43 company shares during the most recent quarter which is valued at $2,295.Tiaa Cref Investment Management boosted its stake in MDP in the latest quarter, The investment management firm added 2,712 additional shares and now holds a total of 148,300 shares of Meredith Corporation which is valued at $7,914,771. Meredith Corporation makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio.S&t Bankpa reduced its stake in MDP by selling 756 shares or 1.94% in the most recent quarter. The Hedge Fund company now holds 38,234 shares of MDP which is valued at $2,040,549. Meredith Corporation makes up approx 0.32% of S&t Bankpa’s portfolio. Quadrant Capital Group added MDP to its portfolio by purchasing 26 company shares during the most recent quarter which is valued at $1,416.
Meredith Corporation closed down -0.57 points or -1.07% at $52.47 with 2,48,364 shares getting traded on Thursday. Post opening the session at $53.05, the shares hit an intraday low of $52.283 and an intraday high of $53.12 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, Meredith Corporation reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.03. The company had revenue of $435.80 million for the quarter, compared to analysts expectations of $437.57 million. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.
Many Wall Street Analysts have commented on Meredith Corporation. Company shares were Reiterated by The Benchmark Company on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $57 .
Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media brand licensing activities database-related activities and business-to-business marketing products and services. The local media segment consists of the operations of network-affiliated television stations related digital and mobile media and video creation operations. Local media segment consists of 14 owned television stations and one operated television station located across the United States in digital and mobile media and a national video creation unit.