Insider Selling: Meredith Corp. Insider Sells 8,898 Shares of Stock (MDP)
Meredith Corp. (NYSE:MDP) Insider John S. Zieser unloaded 8,898 shares of Meredith Corp. stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $46.35, for a total value of $412,422.30. Following the transaction, the insider now directly owns 23,500 shares of the company’s stock, valued at approximately $1,089,225. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Meredith Corp. (NYSE:MDP) traded up 2.17% during mid-day trading on Thursday, hitting $47.00. The stock had a trading volume of 156,079 shares. Meredith Corp. has a one year low of $40.11 and a one year high of $53.84. The stock’s 50-day moving average is $46.9 and its 200-day moving average is $45.74. The company has a market cap of $2.094 billion and a P/E ratio of 18.40.
Meredith Corp. (NYSE:MDP) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.85 by $0.04. The company had revenue of $390.80 million for the quarter, compared to the consensus estimate of $396.70 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts predict that Meredith Corp. will post $3.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.4325 per share. This represents a $1.73 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, August 27th.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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