Institutional Move: Media Gen INC New Com (MEG) Shareholder Teton Advisors INC Has Lowered Its Position by $4.42 Million

Institutional Move: Media Gen INC New Com (MEG) Shareholder Teton Advisors INC Has Lowered Its Position by $4.42 Million

Teton Advisors Inc decreased its stake in Media Gen Inc New Com (MEG) by 21.5% based on its latest 2016Q3 regulatory filing with the SEC. Teton Advisors Inc sold 245,500 shares as the company’s stock rose 8.60% with the market. The institutional investor held 896,104 shares of the consumer services company at the end of 2016Q3, valued at $16.52 million, down from 1.14M at the end of the previous reported quarter. Teton Advisors Inc who had been investing in Media Gen Inc New Com for a number of months, seems to be less bullish one the $2.40B market cap company. The stock is up 2.97% or $0.55 hitting $19.08, despite the negative news. About 1.22M shares traded hands or 59.76% up from the average. Media General, Inc. (NYSE:MEG) has risen 3.46% since June 7, 2016 and is uptrending. It has underperformed by 3.96% the S&P500.

Teton Advisors Inc is a New York-based institutional investor with more than $2.00 billion AUM in March, 2014. Taken from Teton Advisors latest Adv, the fund reported to have 13 full and part-time employees. Among which 10 performing investment advisory and research functions. The institutional investor had between 1-10 clients.

Insitutional Activity: The institutional sentiment decreased to 0.98 in Q3 2016. Its down 0.30, from 1.28 in 2016Q2. The ratio fall, as 20 funds sold all MEG shares owned while 44 reduced positions. 18 funds bought stakes while 45 increased positions. They now own 114.05 million shares or 2.81% less from 117.34 million shares in 2016Q2. The Pennsylvania-based Vanguard Group has invested 0.01% in Media General, Inc. (NYSE:MEG). Northern Tru Corporation has 1.19 million shares for 0.01% of their US portfolio. Westchester Mngmt Limited Liability Company holds 1.49M shares or 0.79% of its portfolio. Investment Mngmt Of Virginia Ltd Liability Company last reported 14,489 shares in the company. California State Teachers Retirement Sys holds 0.01% or 231,082 shares in its portfolio. Omers Administration Corp has 953,800 shares for 0.31% of their US portfolio. Blackrock Management Ltd Liability Company, a New Jersey-based fund reported 451,347 shares. Guggenheim Limited Liability Com accumulated 10,334 shares or 0% of the stock. Aqr Capital Mgmt Limited Company owns 146,097 shares or 0% of their US portfolio. Glenhill Advisors Lc, a New York-based fund reported 3.74M shares. Legal General Gru Public Limited Company reported 22,145 shares or 0% of all its holdings. Royal National Bank Of Canada holds 0% of its portfolio in Media General, Inc. (NYSE:MEG) for 38,428 shares. Laurion Capital Lp holds 754,800 shares or 0.13% of its portfolio. Moreover, Prudential Financial has 0% invested in Media General, Inc. (NYSE:MEG) for 12,220 shares. Alliancebernstein L P, a New York-based fund reported 159,620 shares.

Insider Transactions: Since September 6, 2016, the stock had 0 insider buys, and 4 selling transactions for $70.11 million net activity. Standard General L.P. sold 3.14 million shares worth $55.38M. MCDERMOTT DEBORAH A sold $85,236 worth of stock.

Analysts await Media General, Inc. (NYSE:MEG) to report earnings on February, 24. They expect $0.45 earnings per share, up 275.00% or $0.33 from last year’s $0.12 per share. MEG’s profit will be $56.60M for 10.60 P/E if the $0.45 EPS becomes a reality. After $0.35 actual earnings per share reported by Media General, Inc. for the previous quarter, Wall Street now forecasts 28.57% EPS growth.

According to Zacks Investment Research, “Media General, Inc. operates as a television broadcasting and digital media company. The Company offers consumers and advertisers with entertainment and information, content and distribution on every screen. It has the diverse digital media business with a portfolio that includes LIN Digital, LIN Mobile, HYFN, Dedicated Media, Federated Media and BiteSizeTV. The company’s broadcast operations include network-affiliated television stations and their associated digital and mobile media services. Media General, Inc. is headquartered in Richmond, Virginia.”

Media General, Inc. (NYSE:MEG) Ratings Coverage

Out of 4 analysts covering Media General (NYSE:MEG), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Media General has been the topic of 7 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Equal-Weight” rating by Stephens given on Wednesday, November 18. The stock of Media General, Inc. (NYSE:MEG) has “Buy” rating given on Friday, November 6 by Benchmark. Wedbush downgraded Media General, Inc. (NYSE:MEG) on Monday, October 12 to “Neutral” rating. On Friday, January 8 the stock rating was downgraded by Gabelli to “Hold”.

MEG Company Profile

Media General, Inc., formerly Mercury New Holdco, Inc., incorporated on March 19, 2014, is a connected-screen multimedia company. The Firm provides news, information and entertainment. The Company’s operating divisions include Broadcast and Digital. The Company’s Broadcast segment includes over 70 television stations that are either owned, operated or serviced by the Company in approximately 48 United States markets, all of which are engaged principally in the sale of television advertising. The Company’s Digital segment includes the operating results of the Company’s digital businesses, as well as the business related to the television station companion Websites. Digital segment includes LIN Digital, LIN Mobile, LLC (LIN Mobile), HYFN, Inc. (HYFN), Dedicated Media, Inc. (Dedicated Media), BiteSize TV and Federated Media, as well as the business related to the television station companion Websites.

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