Were Analysts Bearish Meredith Corporation (NYSE:MDP) This Week?

January 22, 2018 - By Marguerite Chambers

 Were Analysts Bearish Meredith Corporation (NYSE:MDP) This Week?
Investors sentiment decreased to 1.1 in Q3 2017. Its down 0.21, from 1.31 in 2017Q2. It dived, 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.
Comml Bank Of Mellon Corporation invested in 0.02% or 1.45M shares. Cutter Communications Brokerage holds 0.18% or 8,250 shares in its portfolio. State Teachers Retirement System stated it has 0.01% of its portfolio in Meredith Corporation (NYSE:MDP). Citigroup Inc has 4,927 shares for 0% of their portfolio. 22,345 are owned by Arizona State Retirement Systems. Raymond James & Associate stated it has 0% of its portfolio in Meredith Corporation (NYSE:MDP). Piedmont Inv Advsrs Ltd Co owns 15,948 shares. Putnam Investments Lc reported 17,800 shares. Moreover, Strs Ohio has 0% invested in Meredith Corporation (NYSE:MDP) for 700 shares. Manufacturers Life Ins The accumulated 0.01% or 86,464 shares. Lowe Brockenbrough & reported 0.05% in Meredith Corporation (NYSE:MDP). Ameritas Inv Partners Inc invested in 30,915 shares or 0.08% of the stock. Moreover, Credit Suisse Ag has 0% invested in Meredith Corporation (NYSE:MDP). Dimensional Fund Ltd Partnership has 1.94M shares for 0.05% of their portfolio. Schroder Investment Mngmt Grp Incorporated reported 541,928 shares.

Since July 31, 2017, it had 0 buys, and 12 insider sales for $7.47 million activity. On Monday, July 31 KARPOWICZ PAUL sold $1.35M worth of Meredith Corporation (NYSE:MDP) or 22,450 shares. MEREDITH EDWIN T IV sold 3,600 shares worth $252,360. On Monday, July 31 Harty Thomas H sold $1.21 million worth of Meredith Corporation (NYSE:MDP) or 20,028 shares. 6,736 Meredith Corporation (NYSE:MDP) shares with value of $385,095 were sold by LACY STEPHEN M. 22,176 shares were sold by FRAZIER MEREDITH D MELL, worth $1.55M.

Meredith Corporation (NYSE:MDP) Ratings Coverage

Among 8 analysts covering Meredith Corporation (NYSE:MDP), 2 have Buy rating, 0 Sell and 6 Hold. Therefore 25% are positive. Meredith Corporation had 23 analyst reports since July 21, 2015 according to SRatingsIntel. As per Monday, September 11, the company rating was maintained by Jefferies. The company was upgraded on Monday, September 21 by Zacks. Stephens initiated Meredith Corporation (NYSE:MDP) on Wednesday, November 18 with “Equal-Weight” rating. The firm has “Buy” rating given on Friday, July 28 by Benchmark. Wells Fargo maintained Meredith Corporation (NYSE:MDP) on Friday, October 27 with “Market Perform” rating. Citigroup downgraded Meredith Corporation (NYSE:MDP) on Friday, December 1 to “Neutral” rating. As per Thursday, March 23, the company rating was maintained by Benchmark. On Thursday, January 26 the stock rating was downgraded by Benchmark to “Hold”. The stock of Meredith Corporation (NYSE:MDP) earned “Buy” rating by Citigroup on Tuesday, May 2. The company was upgraded on Tuesday, November 28 by Jefferies. Below is a list of Meredith Corporation (NYSE:MDP) latest ratings and price target changes.

01/12/2017 Broker: Citigroup Old Rating: Buy New Rating: Neutral Downgrade
28/11/2017 Broker: Jefferies Old Rating: Hold New Rating: Buy Upgrade
13/11/2017 Broker: JMP Securities Rating: Market Perform Initiates Coverage On
27/10/2017 Broker: Wells Fargo Rating: Market Perform Old Target: $62 New Target: $54 Maintain
16/10/2017 Broker: Jefferies Rating: Hold New Target: $60.0 Maintain
11/09/2017 Broker: Jefferies Rating: Hold New Target: $60.0 Maintain
28/07/2017 Broker: Benchmark Rating: Buy New Target: $68.0000 Maintain

The stock decreased 0.22% or $0.15 during the last trading session, reaching $66.65. About 15,765 shares traded. Meredith Corporation (NYSE:MDP) has risen 11.82% since January 22, 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 $2.64 billion. It operates in two divisions, Local Media and National Media. It has a 16.1 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.

More notable recent Meredith Corporation (NYSE:MDP) news were published by: Benzinga.com which released: “Meredith Corp: What To Do With The Stock After The Time Acquisition” on November 28, 2017, also Nytimes.com with their article: “Meredith Bid for Time Inc. Said to Be Backed by Koch Brothers” published on November 16, 2017, Desmoinesregister.com published: “Meredith: Time Inc. editorial staff ‘absolutely’ safe in acquisition” on December 05, 2017. More interesting news about Meredith Corporation (NYSE:MDP) were released by: Nypost.com and their article: “Meredith Corp. loses top execs amid cuts” published on February 04, 2017 as well as Prnewswire.com‘s news article titled: “Meredith Corporation Extends Tender Offer To Acquire Time Inc.” with publication date: January 11, 2018.

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