McClatchy Company (The) (MNI) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of McClatchy Company (The) (NYSE:MNI) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “McClatchy Company is a newspaper and Internet publisher. It publishes daily and non-daily newspapers located in western coastal states, North and South Carolina and Minnesota. McClatchy also publishes a local website in each of its daily newspaper markets, offering readers information, comprehensive news, advertising, e-commerce and other services. McClatchy also owns and operates other media-related businesses, including Nando Media, a national on-line publishing operation, and The Newspaper Network, a national newspaper marketing company. (Company Press Release) “
Several other research firms have also issued reports on MNI. Noble Financial reaffirmed a hold rating on shares of McClatchy Company (The) in a research note on Friday, July 21st. ValuEngine lowered McClatchy Company (The) from a sell rating to a strong sell rating in a research note on Friday, September 1st.
Shares of McClatchy Company (NYSE:MNI) traded down 0.5170% during mid-day trading on Tuesday, reaching $7.1578. The company’s stock had a trading volume of 1,389 shares. The company’s market cap is $54.56 million. McClatchy Company has a 52-week low of $5.75 and a 52-week high of $19.00. The company has a 50-day moving average price of $7.19 and a 200 day moving average price of $9.15.
McClatchy Company (The) (NYSE:MNI) last posted its quarterly earnings data on Friday, July 21st. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.19). The company had revenue of $225.12 million during the quarter, compared to the consensus estimate of $229.70 million. McClatchy Company (The) had a negative net margin of 14.81% and a negative return on equity of 13.89%. Equities analysts expect that McClatchy Company will post ($6.11) earnings per share for the current year.
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Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of McClatchy Company (The) by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 380,782 shares of the company’s stock worth $3,557,000 after acquiring an additional 14,170 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of McClatchy Company (The) during the 2nd quarter worth approximately $942,000. Highbridge Capital Management LLC bought a new stake in shares of McClatchy Company (The) during the 1st quarter worth approximately $540,000. Whitebox Advisors LLC bought a new stake in shares of McClatchy Company (The) during the 1st quarter worth approximately $484,000. Finally, Stifel Financial Corp lifted its stake in shares of McClatchy Company (The) by 14.7% during the 2nd quarter. Stifel Financial Corp now owns 20,778 shares of the company’s stock worth $197,000 after acquiring an additional 2,659 shares during the last quarter. 35.62% of the stock is owned by hedge funds and other institutional investors.
McClatchy Company (The) Company Profile
The McClatchy Company is a news and information publisher of various publications, such as the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, and the (Fort Worth) Star-Telegram. The Company’s segments include Western Segment and Eastern Segment.
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