- Responding to Thursday's stock decline brought on by a guidance reset, Meredith (MDP +0.5%) CEO Tom Harty is buying shares.
- The company says Harty bought 12,000 shares today at an average price of $35.02 each, an outlay of about $420,240.
- It brings his overall holdings of stock/stock equivalents to nearly 100,000 shares.
- "Over the last 18 months we have positioned Meredith for long-term revenue and profit growth," Harty says. "Personally, I do not believe our current share price reflects our potential, and that's why I continue to invest personal funds in company shares."