Should Investors Be Buying Meredith (NYSE:MDP) Shares? Gabelli & Co Upgrades The Stock


Meredith (NYSE:MDP) Stock Upgrade

Gabelli & Co lifted shares of Meredith (NYSE:MDP) from a “Sell” rating to a solid “Hold” rating in an analyst note revealed to clients and investors on 16 December. The financial company now has a $50 PT on shares.

From a total of 6 analysts covering Meredith Corporation (NYSE:MDP) stock, 1 rate it a ”Buy”, 1 a “Sell”, and 5 a ”Hold”. This means that 14% of the ratings are positive. The highest target price is $57 while the lowest target price is $47. The mean of all analyst targets is $51.5 with a 29.66% above today’s ($40.36) stock price. Meredith Corporation was the topic of 5 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Stephens initiated shares on November 18 with “Equal-Weight” rating.

The stock closed the day at $40.36 during the previous session. It is down 21.16% since May 13, 2015 and is downtrending. It has underperformed by 18.53% the S&P500.

The overall sentiment of institutions has decreased to 1.25 in Q2 2015. Its down 0.22, from 1.47 in 2015Q2. The ratio turned negative, as 42 institutions have sold all the shares of Meredith Corporation that they owned while 54 funds have taken shares off the table. 37 funds have purchased shares for the first time while 83 added to their positions. These institutions now hold 31.40 million shares or 13.72% less than the 36.39 million shares they owned in 2015Q2.

The Fund Kellner Capital Llc currently is holding shares equating to 5.24% of its total portfolio in Meredith Corporation representing a total of 234,500 shares. Another fund,Wallace Capital Management Inc., is holding a total of 260,768 shares equating to 2.03% of their holdings. Additionally, Fort L.P. has a 85,565 share stake in Meredith Corporation which represents 1.88% of their total portfolio. The Fund, Channing Capital Management Llc, based out of Illinois, has also built up a stake in the stock, which represents a total of 1.82% of their total portfolio. Finally Tealwood Asset Management Inc, a fund which is based in the state of Minnesota reported a total holdings of 97,316 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 9, 2015, shareholders of Meredith Corporation have witnessed 0 insider purchases, and a total of 1 insider sale equating to a net activity of approximately $332,185 . Marineau Philip A sold 6,315 shares worth approximately $332,185. Berg Donald C sold 300 shares worth approximately $15,926. Henry Frederick B sold 5,400 shares worth approximately $287,442. Coleman Mary Sue sold 6,000 shares worth approximately $334,500. The company insider Meredith Katherine C sold 50,000 shares worth $2.63 million.

Meredith Corporation is a media and marketing company. The company has a market cap of $1.81 billion. The Firm operates two business divisions namely local media and national media. It has 15.45 P/E ratio. The Company’s national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media, brand licensing activities, database-related activities and business-to-business marketing services and products.

According to Zacks Investment Research, “Meredith Corp. has two business segments: publishing and broadcasting. The publishing segment includes magazine and book publishing, integrated marketing, interactive media, brand licensing, and other related operations. The broadcasting segment includes the operations of network-affiliated television stations and syndicated television program marketing and development. Virtually all of the company’s revenues are generated and assets reside within the United States.”