McClatchy (MNI) Stock Rating Upgraded by Zacks Investment Research

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McClatchy (NYSEAMERICAN:MNI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “McClatchy Company is a newspaper and Internet publisher. It publishes daily and non-daily newspapers located in western coastal states, North and South Carolina and Minnesota. McClatchy also publishes a local website in each of its daily newspaper markets, offering readers information, comprehensive news, advertising, e-commerce and other services. McClatchy also owns and operates other media-related businesses, including Nando Media, a national on-line publishing operation, and The Newspaper Network, a national newspaper marketing company. (Company Press Release) “

Separately, Noble Financial reissued a “hold” rating on shares of McClatchy in a research note on Tuesday, May 1st.

McClatchy opened at $9.86 on Tuesday, reports. McClatchy has a 1 year low of $5.75 and a 1 year high of $11.04. The company has a debt-to-equity ratio of -93.38, a current ratio of 0.85 and a quick ratio of 0.79.

McClatchy (NYSEAMERICAN:MNI) last posted its earnings results on Friday, April 27th. The company reported ($2.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.12) by ($0.51). The business had revenue of $198.86 million during the quarter, compared to analysts’ expectations of $207.65 million.

In other news, Director Clyde W. Ostler acquired 5,000 shares of McClatchy stock in a transaction dated Wednesday, May 2nd. The stock was bought at an average cost of $9.41 per share, with a total value of $47,050.00. Following the completion of the transaction, the director now directly owns 18,500 shares of the company’s stock, valued at $174,085. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 34.91% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in McClatchy stock. Highbridge Capital Management LLC lifted its position in shares of McClatchy Co (NYSEAMERICAN:MNI) by 31.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,154 shares of the company’s stock after buying an additional 9,687 shares during the period. Highbridge Capital Management LLC owned about 0.52% of McClatchy worth $371,000 at the end of the most recent quarter. Institutional investors and hedge funds own 35.62% of the company’s stock.

McClatchy Company Profile

The McClatchy Company provides news and advertising services in digital and print formats 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, The (Fort Worth) Star-Telegram, and The (Durham, NC) Herald-Sun.

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