Insider Selling: Meredith Corp. Insider Unloads 4,521 Shares of Stock (MDP)
Meredith Corp. (NYSE:MDP) Insider Steven M. Cappaert unloaded 4,521 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $46.95, for a total value of $212,260.95. Following the transaction, the insider now directly owns 4,400 shares in the company, valued at approximately $206,580. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Meredith Corp. (NYSE:MDP) traded down 0.62% during mid-day trading on Monday, hitting $46.71. The stock had a trading volume of 138,326 shares. Meredith Corp. has a 52 week low of $40.11 and a 52 week high of $53.84. The stock’s 50-day moving average is $46.8 and its 200-day moving average is $45.77. The company has a market cap of $2.081 billion and a price-to-earnings ratio of 18.80.
Meredith Corp. (NYSE:MDP) last announced its 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 prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that Meredith Corp. will post $3.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.4325 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, August 27th.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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