Media General Inc. (NYSE:MEG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “Media General, Inc. operates as a television broadcasting and digital media company. The Company offers consumers and advertisers with entertainment and information, content and distribution on every screen. It has the diverse digital media business with a portfolio that includes LIN Digital, LIN Mobile, HYFN, Dedicated Media, Federated Media and BiteSizeTV. The company’s broadcast operations include network-affiliated television stations and their associated digital and mobile media services. Media General, Inc. is headquartered in Richmond, Virginia. “

Analyst Recommendations for Media General (NYSE:MEG)

Media General (NYSE:MEG) opened at 18.35 on Friday. Media General has a one year low of $14.00 and a one year high of $18.70. The stock’s 50 day moving average price is $17.67 and its 200 day moving average price is $17.67. The stock’s market cap is $2.37 billion.

Media General (NYSE:MEG) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.85. Media General had a negative net margin of 4.25% and a positive return on equity of 6.92%. The business had revenue of $377 million for the quarter, compared to analysts’ expectations of $404.62 million. During the same quarter in the previous year, the firm earned ($0.38) EPS. Media General’s revenue was up 17.1% compared to the same quarter last year. Equities analysts predict that Media General will post $0.80 earnings per share for the current fiscal year.

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In other Media General news, VP Deborah A. Mcdermott sold 4,000 shares of Media General stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $17.90, for a total transaction of $71,600.00. Following the completion of the sale, the vice president now directly owns 4,545 shares of the company’s stock, valued at approximately $81,355.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 16.50% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Media General by 14.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 25,140 shares of the company’s stock worth $463,000 after buying an additional 3,200 shares during the period. Water Island Capital LLC raised its stake in shares of Media General by 26.1% in the third quarter. Water Island Capital LLC now owns 1,199,521 shares of the company’s stock worth $22,107,000 after buying an additional 248,477 shares during the period. BTG Pactual Global Asset Management Ltd raised its stake in shares of Media General by 76.4% in the third quarter. BTG Pactual Global Asset Management Ltd now owns 21,700 shares of the company’s stock worth $400,000 after buying an additional 9,400 shares during the period. Jane Street Group LLC raised its stake in shares of Media General by 3.2% in the third quarter. Jane Street Group LLC now owns 289,801 shares of the company’s stock worth $5,341,000 after buying an additional 8,986 shares during the period. Finally, Mason Capital Management LLC purchased a new stake in shares of Media General during the third quarter worth $38,076,000. 93.18% of the stock is owned by institutional investors and hedge funds.

Media General Company Profile

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.

5 Day Chart for NYSE:MEG

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