Meredith Corporation (NYSE:MDP) Could Improve Your Long Portfolio After Less Shorts Reported

February 15, 2018 - By Marry Poplack

 Meredith Corporation (NYSE:MDP) Could Improve Your Long Portfolio After Less Shorts Reported

Investors sentiment decreased to 1.1 in Q3 2017. Its down 0.21, from 1.31 in 2017Q2. It turned negative, as 25 investors sold Meredith Corporation shares while 62 reduced holdings. 25 funds opened positions while 71 raised stakes. 41.98 million shares or 1.05% less from 42.43 million shares in 2017Q2 were reported.
Tompkins Fincl, New York-based fund reported 80 shares. Cambridge Inv Research has invested 0.01% in Meredith Corporation (NYSE:MDP). Ameriprise Finance Inc holds 0% or 167,705 shares in its portfolio. Acadian Asset Mgmt Ltd holds 21,612 shares. James Invest Research invested in 0.06% or 32,893 shares. Blackrock, New York-based fund reported 7.62 million shares. Vanguard Group Inc has invested 0.01% in Meredith Corporation (NYSE:MDP). Moreover, Grantham Mayo Van Otterloo Ltd Co has 0.01% invested in Meredith Corporation (NYSE:MDP) for 31,685 shares. Principal Financial Inc owns 197,335 shares for 0.01% of their portfolio. Manufacturers Life Ins The reported 86,464 shares. Hutchin Hill Capital L P stated it has 0.01% of its portfolio in Meredith Corporation (NYSE:MDP). Schwab Charles Invest Mgmt holds 0.02% or 370,498 shares in its portfolio. 17,531 were accumulated by Voya Inv Mngmt Lc. Barrow Hanley Mewhinney And Strauss Limited Liability Corporation reported 1.95 million shares. Credit Suisse Ag reported 0% in Meredith Corporation (NYSE:MDP).

Since August 16, 2017, it had 1 buy, and 2 sales for $1.60 million activity. 3,500 shares valued at $201,250 were bought by BERG DONALD C on Monday, February 5. LACY STEPHEN M sold $606,126 worth of stock. Another trade for 4,291 shares valued at $240,812 was sold by KARPOWICZ PAUL. MEREDITH EDWIN T IV also sold $252,360 worth of Meredith Corporation (NYSE:MDP) on Friday, December 15. 3,539 Meredith Corporation (NYSE:MDP) shares with value of $198,201 were sold by ZIESER JOHN S.

The stock of Meredith Corporation (NYSE:MDP) registered a decrease of 0.2% in short interest. MDP’s total short interest was 7.00 million shares in February as published by FINRA. Its down 0.2% from 7.01 million shares, reported previously. With 979,900 shares average volume, it will take short sellers 7 days to cover their MDP’s short positions. The short interest to Meredith Corporation’s float is 17.24%.

The stock increased 0.86% or $0.4818 during the last trading session, reaching $56.5318. About 423,233 shares traded. Meredith Corporation (NYSE:MDP) has risen 11.82% since February 15, 2017 and is uptrending. It has underperformed by 4.88% the S&P500.

Meredith Corporation operates as a diversified media firm in the United States. The company has market cap of $2.24 billion. It operates in two divisions, Local Media and National Media. It has a 9.32 P/E ratio. The Local Media segment operates television stations, such as 7 CBS affiliates, 5 FOX affiliates, 2 MyNetworkTV affiliates, 1 NBC affiliate, 1 ABC affiliate, and 2 independent stations.

Meredith Corporation (NYSE:MDP) Ratings Coverage

Among 8 analysts covering Meredith Corporation (NYSE:MDP), 3 have Buy rating, 0 Sell and 5 Hold. Therefore 38% are positive. Meredith Corporation had 25 analyst reports since July 21, 2015 according to SRatingsIntel. Jefferies maintained the shares of MDP in report on Thursday, June 1 with “Hold” rating. Gabelli upgraded Meredith Corporation (NYSE:MDP) on Wednesday, January 31 to “Buy” rating. As per Wednesday, January 31, the company rating was maintained by Jefferies. The firm earned “Hold” rating on Thursday, January 26 by Benchmark. Citigroup downgraded Meredith Corporation (NYSE:MDP) on Friday, December 1 to “Neutral” rating. The stock of Meredith Corporation (NYSE:MDP) earned “Buy” rating by Citigroup on Tuesday, May 2. Jefferies maintained Meredith Corporation (NYSE:MDP) rating on Monday, October 16. Jefferies has “Hold” rating and $60.0 target. The company was upgraded on Tuesday, November 28 by Jefferies. The firm has “Hold” rating given on Thursday, March 23 by Benchmark. Gabelli upgraded it to “Hold” rating and $50 target in Wednesday, December 16 report.

More notable recent Meredith Corporation (NYSE:MDP) news were published by: Desmoinesregister.com which released: “Meredith Corp. elects new CEO; Lacy moves to executive chairman” on January 29, 2018, also Desmoinesregister.com with their article: “Meredith cuts 600 Florida jobs, will move work to Iowa-based CDS Global” published on February 09, 2018, Seekingalpha.com published: “Meredith Corporation (MDP) CEO Steve Lacy on Q2 2018 Results – Earnings Call …” on February 01, 2018. More interesting news about Meredith Corporation (NYSE:MDP) were released by: Prnewswire.com and their article: “Meredith Corporation Announces Completion Of Time Inc. Acquisition And Reports …” published on January 31, 2018 as well as Desmoinesregister.com‘s news article titled: “LOOK: Meredith moves in to Time Inc.’s New York offices” with publication date: February 01, 2018.

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