An issue of McClatchy Co. (NYSE:MNI) bonds rose 3.3% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 6.875% coupon and will mature on March 15, 2029. The bonds in the issue are now trading at $77.25 and were trading at $70.75 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

Separately, Zacks Investment Research downgraded McClatchy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th.

Shares of McClatchy Co. (NYSE:MNI) opened at 17.74 on Friday. McClatchy Co. has a 52-week low of $8.30 and a 52-week high of $19.77. The stock’s 50 day moving average price is $16.01 and its 200-day moving average price is $14.24. The company’s market capitalization is $135.37 million.

McClatchy (NYSE:MNI) last announced its quarterly earnings results on Thursday, July 21st. The company reported ($1.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $1.35. The company earned $242.20 million during 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 company’s revenue was down 7.7% compared to the same quarter last year. On average, equities analysts expect that McClatchy Co. will post ($3.45) earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC boosted 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 valued at $130,000 after buying an additional 57,100 shares during the period. Boothbay Fund Management LLC acquired a new stake in McClatchy during the first quarter valued at about $1,484,000. Renaissance Technologies LLC raised 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 in the last quarter. Algert Global LLC raised its stake in McClatchy by 15.4% in the first quarter. Algert Global LLC now owns 621,630 shares of the company’s stock valued at $653,000 after buying an additional 82,993 shares in the last quarter. Finally, Numeric Investors LLC acquired a new stake in McClatchy during the second quarter valued at about $409,000. Institutional investors own 35.64% of the company’s stock.

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.

5 Day Chart for NYSE:MNI

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