An issue of McClatchy Co. (NYSE:MNI) bonds rose 3.3% against their face value during trading on Thursday. The high-yield debt issue has a 6.875% coupon and is set to mature on March 15, 2029. The debt is now trading at $77.25 and was trading at $70.75 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.
Separately, Zacks Investment Research lowered McClatchy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th.
Shares of McClatchy Co. (NYSE:MNI) opened at 17.74 on Friday. McClatchy Co. has a 1-year low of $8.30 and a 1-year high of $19.77. The company’s market cap is $135.37 million. The company’s 50-day moving average price is $16.01 and its 200 day moving average price is $14.24.
McClatchy (NYSE:MNI) last announced its quarterly earnings data on Thursday, July 21st. The company reported ($1.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $1.35. The firm earned $242.20 million during the quarter, compared to the consensus estimate of $243.10 million. McClatchy had a negative return on equity of 1.17% and a negative net margin of 1.95%. McClatchy’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that McClatchy Co. will post ($3.45) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Numeric Investors LLC bought a new position in shares of McClatchy during the second quarter worth approximately $409,000. Boothbay Fund Management LLC bought a new position in shares of McClatchy during the first quarter worth approximately $1,484,000. Renaissance Technologies LLC raised its position in shares of McClatchy by 74.0% in the first quarter. Renaissance Technologies LLC now owns 157,299 shares of the company’s stock worth $165,000 after buying an additional 66,900 shares during the period. Spark Investment Management LLC raised its position in shares of McClatchy by 84.6% in the first quarter. Spark Investment Management LLC now owns 124,600 shares of the company’s stock worth $130,000 after buying an additional 57,100 shares during the period. Finally, Algert Global LLC raised its position in shares of McClatchy by 15.4% in the first quarter. Algert Global LLC now owns 621,630 shares of the company’s stock worth $653,000 after buying an additional 82,993 shares during the period. 35.64% of the stock is currently owned by institutional investors and hedge funds.
McClatchy 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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