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MDP

Insider Bets Paying Off At MDP As New 52-Week High Reached

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Thursday, shares of Meredith Corp (Symbol: MDP) touched a new 52-week high of $53.37/share. That's a 52.36% rise, or $18.34 per share from the 52-week low of $35.03 set back on 01/20/2016. That means at today's intraday high, any investor who purchased MDP stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, MDP has seen 2 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
02/10/2016 Donald C. Berg Director 1,115 $38.50 $42,927.50
06/10/2016 Meredith D. Mell Frazier Director 15,628 $51.23 $800,700.58
06/10/2016 Edwin T. Meredith IV 15,628 $51.23 $800,700.58

The chart below shows where MDP has traded over the past year, with the 50-day and 200-day moving averages included.

Meredith Corp Moving Averages Chart

In afternoon trading on Thursday, MDP shares are changing hands at $53.11/share, slightly below the new 52-week high.

Ten Bargains You Can Buy Cheaper Than The Insiders Did »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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