Zacks Investment Research downgraded shares of McClatchy Company (The) (NYSE:MNI) from a hold rating to a sell rating in a report released on Wednesday.

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) “

Separately, Noble Financial restated a buy rating on shares of McClatchy Company (The) in a research report on Saturday, May 6th.

Shares of McClatchy Company (NYSE MNI) opened at 8.06 on Wednesday. McClatchy Company has a 1-year low of $7.65 and a 1-year high of $19.64. The stock’s market capitalization is $61.43 million. The stock has a 50 day moving average price of $9.42 and a 200 day moving average price of $10.36.

McClatchy Company (The) (NYSE:MNI) last posted its earnings results on Friday, July 21st. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by $0.19. The business had revenue of $225.12 million for the quarter, compared to analyst estimates of $229.70 million. McClatchy Company (The) had a negative net margin of 14.81% and a negative return on equity of 10.10%. Equities research analysts anticipate that McClatchy Company will post ($6.11) EPS for the current year.

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In related news, major shareholder Contrarius Investment Manageme sold 11,707 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $9.24, for a total transaction of $108,172.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christian Hendricks sold 3,700 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $11.09, for a total transaction of $41,033.00. Following the transaction, the vice president now owns 6,256 shares of the company’s stock, valued at $69,379.04. The disclosure for this sale can be found here. Insiders have sold 54,591 shares of company stock valued at $475,234 over the last 90 days. 34.91% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp increased its position in shares of McClatchy Company (The) by 9.3% in the first quarter. Stifel Financial Corp now owns 18,119 shares of the company’s stock worth $181,000 after buying an additional 1,535 shares during the period. Whitebox Advisors LLC purchased a new position in shares of McClatchy Company (The) during the first quarter worth $484,000. Highbridge Capital Management LLC purchased a new position in shares of McClatchy Company (The) during the first quarter worth $540,000. Finally, Dimensional Fund Advisors LP increased its position in shares of McClatchy Company (The) by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 366,612 shares of the company’s stock worth $3,545,000 after buying an additional 2,843 shares during the period. Institutional investors own 39.89% of the company’s stock.

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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