An issue of McClatchy Co (NYSE:MNI) debt rose 1.1% against its face value during trading on Friday. The high-yield issue of debt has a 6.875% coupon and is set to mature on March 15, 2029. The bonds in the issue are now trading at $79.50 and were trading at $81.38 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
Several research analysts have weighed in on the company. Zacks Investment Research raised McClatchy from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Noble Financial reaffirmed a “hold” rating on shares of McClatchy in a research report on Friday, July 21st. Finally, ValuEngine lowered McClatchy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.
McClatchy Co (NYSE MNI) opened at 8.35 on Friday. McClatchy Co has a 12 month low of $5.75 and a 12 month high of $18.94. The firm has a 50-day moving average price of $7.34 and a 200 day moving average price of $8.87. The firm’s market capitalization is $63.64 million.
McClatchy (NYSE:MNI) last released its earnings results 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). McClatchy had a negative return on equity of 2,313.90% and a negative net margin of 16.63%. The company had revenue of $225.12 million for the quarter, compared to the consensus estimate of $229.70 million. On average, equities analysts forecast that McClatchy Co will post ($6.11) EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Whitebox Advisors LLC bought a new stake in McClatchy during the first quarter worth about $484,000. Dimensional Fund Advisors LP raised its holdings in McClatchy by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 366,612 shares of the company’s stock worth $3,545,000 after acquiring an additional 2,843 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in McClatchy during the first quarter worth about $540,000. Stifel Financial Corp raised its holdings in McClatchy by 9.3% during the first quarter. Stifel Financial Corp now owns 18,119 shares of the company’s stock worth $181,000 after acquiring an additional 1,535 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in McClatchy during the second quarter worth about $942,000. Institutional investors and hedge funds own 35.62% of the company’s stock.
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McClatchy Company Profile
The McClatchy Company is a news and information publisher of various publications, such as the Miami Herald, 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. Its Western Segment consists of its newspaper operations in California, the Northwest and the Midwest.
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