While the stock in Meredith has continued to move downward, there is at least one person that believes in the company.

Meredith President and Chief Executive Officer Tom Harty just purchased another 10,000 shares of Meredith common stock on the open market at an average price of $28.90 per share.

This appears to be the fourth time since Harty became CEO in January 2018 that he has purchased company shares. With these additional purchases, Harty now holds approximately 140,000 shares of Meredith stock or stock equivalents.

BTW- Meredith’s stock has gone from $66 to just under $28 since January 2018.

It closed yesterday at 27.85, which means Harty’s purchase lost just over $10,000 yesterday.

Ouch!