McClatchy Co (NYSEAMERICAN:MNI) saw a large decline in short interest in July. As of July 31st, there was short interest totalling 477,600 shares, a decline of 19.9% from the June 30th total of 596,100 shares. Approximately 10.5% of the shares of the stock are short sold. Based on an average trading volume of 21,200 shares, the days-to-cover ratio is presently 22.5 days.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of McClatchy from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Noble Financial reaffirmed a “buy” rating and set a $5.00 target price on shares of McClatchy in a report on Sunday.
Several institutional investors have recently added to or reduced their stakes in MNI. Creative Planning purchased a new stake in shares of McClatchy during the second quarter worth $27,000. Goelzer Investment Management Inc. purchased a new stake in shares of McClatchy during the second quarter worth $31,000. Eidelman Virant Capital purchased a new stake in shares of McClatchy during the second quarter worth $109,000. Finally, Cooperman Leon G grew its holdings in shares of McClatchy by 44.9% during the second quarter. Cooperman Leon G now owns 441,050 shares of the company’s stock worth $1,151,000 after buying an additional 136,633 shares in the last quarter. 35.62% of the stock is owned by institutional investors and hedge funds.
McClatchy (NYSEAMERICAN:MNI) last released its earnings results on Thursday, August 8th. The company reported ($1.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.63) by $0.19. The business had revenue of $178.66 million for the quarter, compared to analysts’ expectations of $190.40 million.
McClatchy Company Profile
The McClatchy Company publishes newspapers and news Websites in the United States. Its publications include the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, and The (Fort Worth) Star-Telegram. It also provides niche publications and community newspapers, as well as other print and digital direct marketing services.
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