Media General (MEG) has been under a strong bear grip, hence the stock is down -0.74% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.51% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.56% in the last 1 week, and is up 0.28% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1.18% and the 50-Day Moving Average is 1.49%. Media General (NYSE:MEG): stock turned positive on Friday. Though the stock opened at $17.7, the bulls momentum made the stock top out at $17.82 level for the day. The stock recorded a low of $17.65 and closed the trading day at $17.82, in the green by 0.73%. The total traded volume for the day was 950,264. The stock had closed at $17.69 in the previous days trading.
The company Insiders own 16.5% of Media General shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -54.02% . Institutional Investors own 92.39% of Media General shares. During last six month period, the net percent change held by insiders has seen a change of -7.15%.
Media General, Inc., formerly Mercury New Holdco, Inc., is a connected-screen multimedia company. The Company provides news, information and entertainment. The Companys 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.