Meredith Corporation (NYSE:MDP) has a beta value of 1.66 and has seen 900,107 shares traded in the last trading session. The company, currently valued at $500.22 Million, closed the last trade at $11 per share which meant it lost -$0.63 on the day or -5.42% during that session. The MDP stock price is -262.18% off its 52-week high price of $39.84 and 9% above the 52-week low of $10.01. If we look at the company’s 10-day average daily trading volume, we find that it stood at 606.45 Million shares traded. The 3-month trading volume is 588.32 Million shares.
Meredith Corporation (NYSE:MDP) trade information
Despite being -5.42% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, Oct 26 when the MDP stock price touched $12.24- or saw a rise of 10.13%. Year-to-date, Meredith Corporation shares have moved -66.12%, while the 5-day performance has seen it change -11.79%. Over the past 30 days, the shares of Meredith Corporation (NYSE:MDP) have changed -16.16%. Short interest in the company has seen 8.16 Million shares shorted with days to cover at 0.01.
Meredith Corporation (MDP) estimates and forecasts
Figures show that Meredith Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -14.53% over the past 6 months. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -82.8% and -41.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be -2.2%.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -39.4% over the past 5 years. Earnings growth for 2020 is a modest -979.4% while over the next 5 years, the company’s earnings are expected to increase by 25.7%.
Meredith Corporation (NYSE:MDP)’s Major holders
Insiders own 2.74% of the company shares, while shares held by institutions stand at 93.73% with a share float percentage of 96.37%. Investors are also buoyed by the number of investors in a company, with Meredith Corporation having a total of 320 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 6.11 Million shares worth more than $88.85 Million. As of June 29, 2020, Blackrock Inc. held 15.12% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 4.13 Million shares as of June 29, 2020. The firm’s total holdings are worth over $60.03 Million and represent 10.21% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Ariel Fund and iShares Core S&P Smallcap ETF. As of June 29, 2020, the former fund manager holds about 6.56% shares in the company for having 2649456 shares of worth $38.55 Million while later fund manager owns 2.5 Million shares of worth $32.85 Million as of September 29, 2020, which makes it owner of about 6.2% of company’s outstanding stock.