McClatchy Co (MNI) Sees Large Growth in Short Interest
McClatchy Co (NYSE:MNI) was the recipient of a large growth in short interest during the month of October. As of October 13th, there was short interest totalling 886,995 shares, a growth of 5.3% from the September 29th total of 842,482 shares. Currently, 17.9% of the company’s stock are short sold. Based on an average daily volume of 29,625 shares, the days-to-cover ratio is currently 29.9 days.
McClatchy (NYSE MNI) traded up 0.57% during mid-day trading on Tuesday, reaching $8.80. The company had a trading volume of 29,827 shares. McClatchy has a 12-month low of $5.75 and a 12-month high of $17.16. The company’s market capitalization is $67.07 million. The stock has a 50-day moving average of $7.69 and a 200 day moving average of $8.73.
McClatchy (NYSE:MNI) last released its earnings results on Monday, October 16th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.23). McClatchy had a negative return on equity of 2,313.90% and a negative net margin of 16.63%. The firm had revenue of $212.60 million during the quarter, compared to analysts’ expectations of $223.96 million. On average, analysts expect that McClatchy will post ($6.11) EPS for the current year.
Several research analysts have recently commented on the company. ValuEngine downgraded McClatchy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded McClatchy from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Noble Financial reiterated a “hold” rating on shares of McClatchy in a research note on Tuesday.
In related news, major shareholder Chatham Asset Management, Llc purchased 22,970 shares of the stock in a transaction on Thursday, October 19th. The shares were purchased at an average price of $7.50 per share, with a total value of $172,275.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 161,244 shares of company stock worth $1,231,571 in the last ninety days. Insiders own 34.91% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MNI. Stifel Financial Corp increased its position in McClatchy by 9.3% in the first quarter. Stifel Financial Corp now owns 18,119 shares of the company’s stock worth $181,000 after buying an additional 1,535 shares during the last quarter. Dimensional Fund Advisors LP increased its position in McClatchy by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 366,612 shares of the company’s stock worth $3,545,000 after buying an additional 2,843 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in McClatchy in the first quarter worth $540,000. Hancock Holding Co. purchased a new stake in McClatchy in the second quarter worth $181,000. Finally, Tower Research Capital LLC TRC increased its position in McClatchy by 1,102.3% in the second quarter. Tower Research Capital LLC TRC now owns 10,845 shares of the company’s stock worth $101,000 after buying an additional 9,943 shares during the last quarter. 35.62% of the stock is 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 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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