State Board of Administration of Florida Retirement System decreased its position in shares of Media General Inc. (NYSE:MEG) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 57,813 shares of the company’s stock after selling 142 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Media General were worth $994,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MEG. S. Muoio & CO. LLC raised its stake in shares of Media General by 34.4% in the first quarter. S. Muoio & CO. LLC now owns 167,561 shares of the company’s stock worth $2,733,000 after buying an additional 42,900 shares in the last quarter. Norges Bank acquired a new stake in shares of Media General during the fourth quarter worth approximately $11,132,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of Media General by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,369,311 shares of the company’s stock worth $38,643,000 after buying an additional 33,184 shares in the last quarter. Swiss National Bank raised its stake in shares of Media General by 7.3% in the second quarter. Swiss National Bank now owns 149,200 shares of the company’s stock worth $2,565,000 after buying an additional 10,200 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Media General by 117.9% in the first quarter. BlackRock Inc. now owns 6,654 shares of the company’s stock worth $109,000 after buying an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 93.62% of the company’s stock.
Media General Inc. (NYSE:MEG) traded up 0.50% during mid-day trading on Friday, reaching $18.01. 893,586 shares of the company’s stock traded hands. The stock’s market cap is $2.33 billion. Media General Inc. has a 12 month low of $13.28 and a 12 month high of $18.18. The company has a 50 day moving average price of $17.80 and a 200-day moving average price of $17.40.
Media General (NYSE:MEG) last released its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.02. Media General had a positive return on equity of 3.48% and a negative net margin of 3.50%. The firm had revenue of $363 million for the quarter, compared to the consensus estimate of $365.85 million. During the same quarter in the previous year, the business posted $0.01 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts anticipate that Media General Inc. will post $0.82 EPS for the current year.
Separately, Zacks Investment Research lowered shares of Media General from a “buy” rating to a “hold” rating in a research report on Friday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.57.
In other Media General news, VP Deborah A. Mcdermott sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $17.90, for a total transaction of $71,600.00. Following the completion of the transaction, the vice president now owns 4,545 shares in the company, valued at approximately $81,355.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 16.50% of the company’s stock.
About Media General
Media General, Inc is a television broadcasting and digital media company. The Company provides news, information and entertainment in markets across the United States. The Company operates or services 71 network-affiliated broadcast television stations in 48 markets along with the digital media business.
Want to see what other hedge funds are holding MEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Media General Inc. (NYSE:MEG).
Receive News & Ratings for Media General Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Media General Inc. and related companies with MarketBeat.com's FREE daily email newsletter.