McClatchy Co (MNI) Debt Trading 1.1% Higher

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.

TRADEMARK VIOLATION WARNING: This report was first published by Transcript Daily and is owned by of Transcript Daily. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://transcriptdaily.com/2017/10/08/mcclatchy-co-mni-debt-trading-1-1-higher.html.

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.

Receive News & Ratings for McClatchy Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McClatchy Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply