Jet Capital Investors L P adds Media General Inc (MEG) to its portfolio

Media General Inc (MEG) : Jet Capital Investors L P added new position in Media General Inc during the most recent quarter end. The investment management firm now holds 4,800,000 shares of Media General Inc which is valued at $82.2 Million , the company said in a statement filed on May 13, 2016 with the SEC.Media General Inc makes up approximately 8.22% of Jet Capital Investors L P’s portfolio.

Other Hedge Funds, Including , Levin Capital Strategies reduced its stake in MEG by selling 85,822 shares or 21.71% in the most recent quarter. The Hedge Fund company now holds 309,402 shares of MEG which is valued at $5.3 Million. Media General Inc makes up approx 0.10% of Levin Capital Strategies’s portfolio.Hudson Bay Capital Management Lp boosted its stake in MEG in the latest quarter, The investment management firm added 335,867 additional shares and now holds a total of 565,028 shares of Media General Inc which is valued at $9.7 Million. Media General Inc makes up approx 1.32% of Hudson Bay Capital Management Lp’s portfolio.Blackrock Fund Advisors reduced its stake in MEG by selling 57,656 shares or 2.49% in the most recent quarter. The Hedge Fund company now holds 2,254,434 shares of MEG which is valued at $38.6 Million. Media General Inc makes up approx 0.01% of Blackrock Fund Advisors’s portfolio.Norges Bank boosted its stake in MEG in the latest quarter, The investment management firm added 342,276 additional shares and now holds a total of 689,276 shares of Media General Inc which is valued at $11.8 Million. Media General Inc makes up approx 0.01% of Norges Bank’s portfolio.Blackrock Investment Management boosted its stake in MEG in the latest quarter, The investment management firm added 485,643 additional shares and now holds a total of 841,868 shares of Media General Inc which is valued at $14.4 Million. Media General Inc makes up approx 0.02% of Blackrock Investment Management’s portfolio.

Media General Inc opened for trading at $17.45 and hit $17.64 on the upside on Wednesday, eventually ending the session at $17.53, with a gain of 0.40% or 0.07 points. The heightened volatility saw the trading volume jump to 7,95,497 shares. Company has a market cap of $2,266 M.

On the company’s financial health, Media General Inc reported $-0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.28 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $0.08. The company had revenue of $343.00 million for the quarter, compared to analysts expectations of $339.50 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.

Many Wall Street Analysts have commented on Media General Inc. Company shares were Reiterated by Wedbush on May 9, 2016 to “Neutral”, Firm has raised the Price Target to $ 19 from a previous price target of $18 .

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.

Leave a Reply

Media General Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Media General Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.