Shares of Media General Inc. (NYSE:MEG) saw strong trading volume on Monday . 1,573,272 shares traded hands during trading, an increase of 48% from the previous session’s volume of 1,063,668 shares.The stock last traded at $17.69 and had previously closed at $17.56.

Several equities analysts have commented on the stock. Wedbush lifted their target price on shares of Media General from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, May 9th. Zacks Investment Research upgraded shares of Media General from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research note on Tuesday, May 10th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.57.

The firm’s market capitalization is $2.30 billion. The firm’s 50-day moving average price is $17.52 and its 200-day moving average price is $16.72.

Media General (NYSE:MEG) last announced its quarterly earnings data on Friday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.24. During the same quarter in the previous year, the business posted ($0.06) EPS. The business had revenue of $343 million for the quarter, compared to analyst estimates of $340.17 million. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts predict that Media General Inc. will post $0.89 earnings per share for the current fiscal year.

In other news, Director John R. Muse sold 1,211,478 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $17.94, for a total value of $21,733,915.32. Following the transaction, the director now owns 96,522 shares in the company, valued at $1,731,604.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John R. Muse sold 7,995 shares of the company’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $17.55, for a total transaction of $140,312.25. Following the completion of the transaction, the director now owns 70,174 shares in the company, valued at approximately $1,231,553.70. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently modified their holdings of the company. Levin Capital Strategies L.P. increased its position in shares of Media General by 1,480.9% in the fourth quarter. Levin Capital Strategies L.P. now owns 395,224 shares of the company’s stock valued at $6,383,000 after buying an additional 370,224 shares in the last quarter. Napier Park Global Capital US LP increased its position in shares of Media General by 64.4% in the fourth quarter. Napier Park Global Capital US LP now owns 486,200 shares of the company’s stock valued at $7,852,000 after buying an additional 190,450 shares in the last quarter. Cowen Group Inc. increased its position in shares of Media General by 64.3% in the fourth quarter. Cowen Group Inc. now owns 143,800 shares of the company’s stock valued at $2,322,000 after buying an additional 56,300 shares in the last quarter. Royce & Associates LLC increased its position in shares of Media General by 31.1% in the fourth quarter. Royce & Associates LLC now owns 305,739 shares of the company’s stock valued at $4,938,000 after buying an additional 72,543 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Media General by 3.9% in the fourth quarter. Wells Fargo & Company MN now owns 716,949 shares of the company’s stock valued at $11,579,000 after buying an additional 27,017 shares in the last quarter.

Media General, Inc is a television broadcasting and digital media company. The Company provides news, information and entertainment in markets across the United States. The Company operates or services 71 network-affiliated broadcast television stations in 48 markets along with the digital media business.

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