Insider Selling: Media General CAO Unloads 2,533 Shares of Stock (MEG)
Media General (NYSE:MEG) CAO Timothy J. Mulvaney sold 2,533 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $15.52, for a total transaction of $39,312.16. Following the completion of the sale, the chief accounting officer now directly owns 8,750 shares of the company’s stock, valued at approximately $135,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Separately, analysts at Wedbush initiated coverage on shares of Media General in a research note on Tuesday, June 24th. They set an “outperform” rating and a $24.00 price target on the stock.
Media General (NYSE:MEG) traded up 1.93% during mid-day trading on Wednesday, hitting $15.88. 844,777 shares of the company’s stock traded hands. Media General has a one year low of $10.40 and a one year high of $23.97. The stock has a 50-day moving average of $18.90 and a 200-day moving average of $17.9. The company has a market cap of $1.409 billion and a P/E ratio of 100.52.
Media General (NYSE:MEG) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.16 by $0.08. The company had revenue of $154.10 million for the quarter, compared to the consensus estimate of $153.33 million. On average, analysts predict that Media General will post $0.74 earnings per share for the current fiscal year.
Media General, Inc is a provider of news, information and entertainment across 18 network-affiliated broadcast television stations and their associated digital media and mobile platforms.
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