Meredith Corp. (NYSE:MDP) shares saw an uptick in trading volume on Wednesday . 761,112 shares traded hands during trading, an increase of 117% from the previous session’s volume of 350,775 shares.The stock last traded at $54.87 and had previously closed at $55.27.

Separately, Zacks Investment Research downgraded Meredith Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Meredith Corp. has an average rating of “Hold” and an average price target of $52.67.

The stock has a 50-day moving average price of $53.07 and a 200-day moving average price of $47.41. The company has a market cap of $2.44 billion and a P/E ratio of 14.91.

In other Meredith Corp. news, Director Frederick B. Henry sold 1,186 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $51.10, for a total value of $60,604.60. Following the completion of the sale, the director now directly owns 37,015 shares of the company’s stock, valued at $1,891,466.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Zieser sold 8,783 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $51.21, for a total transaction of $449,777.43. The disclosure for this sale can be found here.

Other hedge funds have bought and sold shares of the company. S&T Bank PA increased its stake in Meredith Corp. by 2.1% in the fourth quarter. S&T Bank PA now owns 56,857 shares of the company’s stock valued at $2,459,000 after buying an additional 1,180 shares in the last quarter. Deere & Co. increased its stake in Meredith Corp. by 2.2% in the fourth quarter. Deere & Co. now owns 36,774 shares of the company’s stock valued at $1,590,000 after buying an additional 786 shares in the last quarter. Aberdeen Asset Management PLC UK increased its stake in Meredith Corp. by 100.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 100,000 shares of the company’s stock valued at $4,452,000 after buying an additional 50,000 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Meredith Corp. by 1.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 25,869 shares of the company’s stock valued at $1,119,000 after buying an additional 275 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. increased its stake in Meredith Corp. by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 24,276 shares of the company’s stock valued at $1,050,000 after buying an additional 8,244 shares in the last quarter.

Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its 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 products and services.

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