Standard General Lowers stake in Media General Inc (MEG)

Media General Inc (MEG) : Standard General reduced its stake in Media General Inc by 41.39% during the most recent quarter end. The investment management company now holds a total of 4,443,649 shares of Media General Inc which is valued at $82,429,689 after selling 3,137,500 shares in Media General Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Media General Inc makes up approximately 33.06% of Standard General’s portfolio.

Other Hedge Funds, Including , Glg Partners Lp reduced its stake in MEG by selling 107,320 shares or 6.55% in the most recent quarter. The Hedge Fund company now holds 1,531,805 shares of MEG which is valued at $28,414,983. Media General Inc makes up approx 1.59% of Glg Partners Lp’s portfolio.Credit Agricole S A boosted its stake in MEG in the latest quarter, The investment management firm added 22,141 additional shares and now holds a total of 155,405 shares of Media General Inc which is valued at $2,761,547. Media General Inc makes up approx 0.01% of Credit Agricole S A’s portfolio.Marshall Wace Llp boosted its stake in MEG in the latest quarter, The investment management firm added 8,372 additional shares and now holds a total of 95,242 shares of Media General Inc which is valued at $1,692,450. Media General Inc makes up approx 0.01% of Marshall Wace Llp’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in MEG in the latest quarter, The investment management firm added 143,542 additional shares and now holds a total of 2,668,918 shares of Media General Inc which is valued at $45,024,647. Media General Inc makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio. Quantitative Investment Management sold out all of its stake in MEG during the most recent quarter. The investment firm sold 38,900 shares of MEG which is valued $649,241.

Media General Inc closed down -0.02 points or -0.11% at $18.25 with 5,32,753 shares getting traded on Monday. Post opening the session at $18.36, the shares hit an intraday low of $18.23 and an intraday high of $18.45 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Media General Inc reported $-0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.88 based on the information available during the earnings call on Nov 9, 2016. Analyst had a consensus of $0.35. The company had revenue of $377.00 million for the quarter, compared to analysts expectations of $404.62 million. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.38 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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