Media General (MEG) : The value of composite uptick trades was $1.84 million, whereas, the value of composite downtick trades was $5.28 million. The uptick to downtick ratio stood at 0.35 with a negative money flow of ($3.44) Million during Wednesdays trading session. The block trades money flow was negative ($3.74 million).The uptick to the downtick ratio of 0.15 in block trades signals that the large investors have utilized the rise in the stock to sell.The uptick transaction value stood at $0.69 million. The transaction of the trades on downticks amounted to $4.43 million, which confirms investors selling on the strength of price. Media General (MEG) gained 9 cents at $17.78, an increase of 0.48% over the previous days close.
Media General (NYSE:MEG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.75 and $17.59 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.92. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.89, notching a gain of 1.13% for the day. The total traded volume was 1,181,874 . The stock had closed at $17.69 on the previous day.
The stock has recorded a 20-day Moving Average of 3.13% and the 50-Day Moving Average is 2.22%. In a related news, The Securities and Exchange Commission has divulged that Muse John R, director of Media General Inc, had unloaded 102,928 shares at an average price of $17.82 in a transaction dated on July 12, 2016. The total value of the transaction was worth $1,834,177.
Media General, Inc., formerly Mercury New Holdco, Inc., is a connected-screen multimedia company. The Company provides news, information and entertainment. The Companys 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.