McClatchy Company (The) (MNI) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of McClatchy Company (The) (NYSE:MNI) from a sell rating to a hold rating in a research report released on Saturday.

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) “

Shares of McClatchy Company (NYSE:MNI) opened at 11.35 on Friday. The company’s market capitalization is $85.98 million. McClatchy Company has a 52 week low of $9.10 and a 52 week high of $19.77. The company has a 50-day moving average price of $12.46 and a 200-day moving average price of $15.09.

McClatchy Company (The) (NYSE:MNI) last released its quarterly earnings data on Thursday, February 9th. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $0.65 by $1.03. McClatchy Company (The) had a negative return on equity of 4.34% and a negative net margin of 2.84%. The company had revenue of $262.20 million for the quarter, compared to analysts’ expectations of $260.08 million. During the same period last year, the firm posted $0.20 earnings per share. McClatchy Company (The)’s revenue was down 8.3% compared to the same quarter last year. Analysts predict that McClatchy Company will post ($1.36) earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC increased its position in McClatchy Company (The) by 16.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,742 shares of the company’s stock valued at $115,000 after buying an additional 1,216 shares during the period. Acrospire Investment Management LLC increased its position in McClatchy Company (The) by 3,286.3% in the third quarter. Acrospire Investment Management LLC now owns 15,577 shares of the company’s stock valued at $251,000 after buying an additional 15,117 shares during the period. Spark Investment Management LLC increased its position in McClatchy Company (The) by 31.0% in the third quarter. Spark Investment Management LLC now owns 18,600 shares of the company’s stock valued at $300,000 after buying an additional 4,400 shares during the period. Numeric Investors LLC bought a new position in McClatchy Company (The) during the second quarter valued at approximately $409,000. Finally, Eagle Global Advisors LLC bought a new position in McClatchy Company (The) during the third quarter valued at approximately $473,000. 41.76% of the stock is currently owned by institutional investors.

McClatchy Company (The) 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.

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