An issue of McClatchy Company (The) (NYSE:MNI) debt rose 2% against its face value during trading on Monday. The high-yield issue of debt has a 6.875% coupon and will mature on March 15, 2029. The bonds in the issue are now trading at $76.50 and were trading at $71.50 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

Several brokerages have recently commented on MNI. Noble Financial restated a “buy” rating on shares of McClatchy Company (The) in a report on Saturday, May 6th. Zacks Investment Research lowered shares of McClatchy Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th.

Shares of McClatchy Company (NYSE:MNI) opened at 7.32 on Wednesday. The firm’s 50-day moving average is $7.67 and its 200-day moving average is $9.61. The firm’s market capitalization is $55.79 million. McClatchy Company has a 12-month low of $5.75 and a 12-month high of $19.00.

McClatchy Company (The) (NYSE:MNI) last issued its earnings results on Friday, July 21st. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.60) by $0.19. The firm had revenue of $225.12 million during the quarter, compared to the consensus estimate of $229.70 million. McClatchy Company (The) had a negative return on equity of 13.89% and a negative net margin of 14.81%. Equities research analysts forecast that McClatchy Company will post ($6.11) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of McClatchy Company (The) by 1,102.3% in the second quarter. Tower Research Capital LLC TRC now owns 10,845 shares of the company’s stock valued at $101,000 after buying an additional 9,943 shares during the period. Stifel Financial Corp boosted its position in shares of McClatchy Company (The) 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. Hancock Holding Co. bought a new position in shares of McClatchy Company (The) during the second quarter worth about $181,000. Whitebox Advisors LLC bought a new position in shares of McClatchy Company (The) during the first quarter worth about $484,000. Finally, Highbridge Capital Management LLC bought a new position in shares of McClatchy Company (The) during the first quarter worth about $540,000. 35.62% of the stock is owned by hedge funds and other institutional investors.

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About McClatchy Company (The)

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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