Harvest Management buys $8,090,280 stake in Media General Inc (MEG)

Media General Inc (MEG) : Harvest Management scooped up 104,000 additional shares in Media General Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 454,000 shares of Media General Inc which is valued at $8,090,280.Media General Inc makes up approximately 8.05% of Harvest Management’s portfolio.

Other Hedge Funds, Including , Deimos Asset Management added MEG to its portfolio by purchasing 249,903 company shares during the most recent quarter which is valued at $4,453,271. Media General Inc makes up approx 3.72% of Deimos Asset Management’s portfolio.Blackrock Group Ltd boosted its stake in MEG in the latest quarter, The investment management firm added 17,266 additional shares and now holds a total of 49,487 shares of Media General Inc which is valued at $881,858. Spot Trading L.l.c sold out all of its stake in MEG during the most recent quarter. The investment firm sold 7,252 shares of MEG which is valued $125,967.

Media General Inc (MEG) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $17.55 and reached the intraday high at $17.69. The bulls started the profit booking and pushed the shares to intraday low of $17.49. The trading session was marked by a volume range of 3,41,911 shares exchanging hands. The 52-week high of the shares is $18.18 and the 52-week low is $9.74. The market cap of the company stands at $2,270 M and there are 12,93,23,690 shares in public circulation.

On the company’s financial health, Media General Inc reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 5, 2016. Analyst had a consensus of $0.17. The company had revenue of $363.00 million for the quarter, compared to analysts expectations of $365.85 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

Media General Inc. formerly Mercury New Holdco Inc. is a connected-screen multimedia company. The Company provides news information and entertainment. The Company’s segment include Broadcast segment which has around 71 television stations that are either owned operated or serviced by the Company in around 48 United States markets all of which are engaged principally in the sale of television advertising and Digital segment which includes digital companies: LIN Digital LIN Mobile HYFN Inc. (HYFN) Dedicated Media Inc. (Dedicated Media) BiteSize TV and Federated Media as well as the business operations related to the television station companion Websites. LIN Digital provides display and video advertising. LIN Mobile provides mobile advertising. Federated Media provides display and video advertising. Dedicated Media provides marketing data focusing and analytics for digital marketing campaigns. HYFN is a digital agency. BiteSize TV is a video content creator.

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