Media General Inc (MEG) : Standard General reduced its stake in Media General Inc by 36.18% during the most recent quarter end. The investment management company now holds a total of 7,581,149 shares of Media General Inc which is valued at $135,096,075 after selling 4,297,060 shares in Media General Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Media General Inc makes up approximately 52.61% of Standard General’s portfolio.
Other Hedge Funds, Including , A.r.t. Advisors added MEG to its portfolio by purchasing 65,581 company shares during the most recent quarter which is valued at $1,168,653. Media General Inc makes up approx 0.06% of A.r.t. Advisors’s portfolio. Seven Eight Capital sold out all of its stake in MEG during the most recent quarter. The investment firm sold 9,457 shares of MEG which is valued $168,524.Hudson Bay Capital Management Lp reduced its stake in MEG by selling 500,000 shares or 88.49% in the most recent quarter. The Hedge Fund company now holds 65,028 shares of MEG which is valued at $1,158,799. Media General Inc makes up approx 0.11% of Hudson Bay Capital Management Lp’s portfolio.Jet Capital Investors L P reduced its stake in MEG by selling 58,480 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 4,741,520 shares of MEG which is valued at $84,019,734. Media General Inc makes up approx 8.40% of Jet Capital Investors L P’s portfolio.Quantitative Investment Management reduced its stake in MEG by selling 12,500 shares or 24.32% in the most recent quarter. The Hedge Fund company now holds 38,900 shares of MEG which is valued at $675,693. Media General Inc makes up approx 0.03% of Quantitative Investment Management’s portfolio.
Media General Inc opened for trading at $17.7 and hit $17.84 on the upside on Thursday, eventually ending the session at $17.7, with a gain of 0.17% or 0.03 points. The heightened volatility saw the trading volume jump to 22,60,072 shares. Company has a market cap of $2,289 M.
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.