Meredith Corporation (NYSE:MDP) insider Thomas H. Harty sold 10,363 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $57.80, for a total transaction of $598,981.40. Following the completion of the sale, the insider now owns 14,445 shares of the company’s stock, valued at approximately $834,921. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Meredith Corporation (NYSE:MDP) traded down 0.43% on Tuesday, hitting $58.00. 216,099 shares of the stock traded hands. Meredith Corporation has a 52 week low of $43.85 and a 52 week high of $66.25. The firm’s 50 day moving average is $59.02 and its 200 day moving average is $59.95. The firm has a market capitalization of $2.59 billion, a PE ratio of 13.94 and a beta of 1.22.

Meredith Corporation (NYSE:MDP) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.11. The business had revenue of $445.40 million for the quarter, compared to analyst estimates of $439.61 million. Meredith Corporation had a net margin of 11.03% and a return on equity of 18.98%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, analysts expect that Meredith Corporation will post $3.38 EPS for the current fiscal year.

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A number of research firms have issued reports on MDP. ValuEngine upgraded shares of Meredith Corporation from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub upgraded shares of Meredith Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Meredith Corporation from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Thursday, June 22nd. Benchmark Co. upgraded shares of Meredith Corporation from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, June 5th. Finally, Citigroup Inc. upgraded shares of Meredith Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $65.00 in a research note on Tuesday, May 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $63.50.

Hedge funds have recently made changes to their positions in the company. Iowa State Bank raised its stake in shares of Meredith Corporation by 41.9% in the first quarter. Iowa State Bank now owns 16,225 shares of the company’s stock worth $1,048,000 after buying an additional 4,789 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Meredith Corporation by 14.8% in the second quarter. North Star Investment Management Corp. now owns 31,025 shares of the company’s stock worth $1,844,000 after buying an additional 4,000 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of Meredith Corporation by 1.4% in the first quarter. Mason Street Advisors LLC now owns 17,282 shares of the company’s stock worth $1,116,000 after buying an additional 234 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Meredith Corporation during the first quarter worth $15,791,000. Finally, Bank of Montreal Can increased its position in shares of Meredith Corporation by 16.1% in the first quarter. Bank of Montreal Can now owns 1,739 shares of the company’s stock worth $113,000 after buying an additional 241 shares during the last quarter. 96.59% of the stock is currently owned by institutional investors and hedge funds.

Meredith Corporation Company Profile

Meredith Corporation is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations.

Insider Buying and Selling by Quarter for Meredith Corporation (NYSE:MDP)

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