An issue of McClatchy Co. (NYSE:MNI) bonds rose 2.3% as a percentage of their face value during trading on Tuesday. The high-yield debt issue 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 $71.50 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
Separately, Zacks Investment Research lowered shares of McClatchy from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th.
Shares of McClatchy Co. (NYSE:MNI) opened at 17.79 on Wednesday. The company’s market capitalization is $135.76 million. The company’s 50 day moving average is $16.02 and its 200 day moving average is $14.42. McClatchy Co. has a one year low of $8.30 and a one year high of $19.77.
McClatchy (NYSE:MNI) last released its quarterly earnings data on Thursday, July 21st. The company reported ($1.89) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $1.35. The business had revenue of $242.20 million for the quarter, compared to analysts’ expectations of $243.10 million. McClatchy had a negative net margin of 1.95% and a negative return on equity of 1.17%. The firm’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts predict that McClatchy Co. will post ($3.45) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Numeric Investors LLC acquired a new stake in McClatchy during the second quarter valued at approximately $409,000. Boothbay Fund Management LLC acquired a new stake in McClatchy during the first quarter valued at approximately $1,484,000. Renaissance Technologies LLC increased its stake in McClatchy by 74.0% in the first quarter. Renaissance Technologies LLC now owns 157,299 shares of the company’s stock valued at $165,000 after buying an additional 66,900 shares during the period. Finally, Spark Investment Management LLC increased its stake in McClatchy by 84.6% in the first quarter. Spark Investment Management LLC now owns 124,600 shares of the company’s stock valued at $130,000 after buying an additional 57,100 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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