Meredith Corporation (NYSE:MDP) reached 18.42% versus a 1-year low price of $50.63. The stock was last seen 10.51% higher, reaching at $59.95 on 11/16/2017. At recent session, the prices were hovering between $56 and $60.2. This company shares are -0.92% up from its target price of $59.4 and the current market capitalization stands at $2.69B. The recent change has given its price a 11.21% lead over SMA 50 and -9.51% deficit over its 52-week high. The stock witnessed 11.33% gains, 10.2% gains and 12.37% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found MDP’s volatility during a week at 3.55% and during a month it has been found around 2.77%.Meredith Corporation (MDP) Top Holders
Institutional investors currently hold around $2.41 billion or 0% in MDP stock. Look at its top three institutional owners. Blackrock Inc. owns $413.55 million in Meredith Corporation, which represents roughly 15.37% of the company’s market cap and approximately 17.16% of the institutional ownership. Similar statistics are true for the second largest owner, State Street Corp, which owns 5,517,628 shares of the stock are valued at $299.33 million. The third largest holder is Vanguard Group Inc, which currently holds $190.7 million worth of this stock and that ownership represents nearly 7.09% of its market capitalization.Meredith Corporation 13F Filings
At the end of 09/30/2017 reporting period, 114 institutional holders increased their position in Meredith Corporation (NYSE:MDP) by some 3,496,934 shares, 107 decreased positions by 2,316,746 and 39 held positions by 38,607,541. That puts total institutional holdings at 44,421,221 shares, according to SEC filings. The stock grabbed 22 new institutional investments totaling 1,545,331 shares while 34 institutional investors sold out their entire positions totaling 1,185,357 shares.
Multiple company employees have indulged in significant insider trading. Meredith Corporation disclosed in a document filed with the US Securities and Exchange Commission (SEC) that President-Local Media Group Karpowicz Paul has sold 4,291 shares of Meredith Corporation (MDP) in trading session dated Aug. 16, 2017. These shares are worth $240,811 and were traded at $56.12 each. The SEC filing shows that Lacy Stephen M performed a sale of 10,816 shares. The Chairman and CEO disposed these shares by way of transaction on Aug. 16, 2017. The company’s shares were given away at $56.04 per share worth to an income of some $606,129 on account of Lacy Stephen M.
Chief Development Officer, Zieser John S, sold 3,539 common shares of Meredith Corporation (MDP) in the open market. In a transaction dated Aug. 16, 2017, the shares were put up for sale at an average price of $56, raking in a sum of $198,184. After this sale, 47 common shares of MDP are directly owned by the insider, with total stake valued at $2,818.
In the transaction dated Aug. 15, 2017, the great number of shares disposed came courtesy the Chief Development Officer; Zieser John S disposed a total of 1,924 shares at an average price of $57.26, amounting to approximately $110,168. The insider now directly owns 3,586 shares worth $214,981.Meredith Corporation (MDP) Analyst Guide
Several analysts have released their opinion on Meredith Corporation (NYSE:MDP), with 2 analysts believing it is a strong buy. Whereas 4 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.33 average brokerage recommendation.