McClatchy Company (The) (MNI) Downgraded to Sell at Zacks Investment Research

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

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) “

A number of other equities analysts also recently commented on MNI. Noble Financial reaffirmed a hold rating on shares of McClatchy Company (The) in a report on Friday, July 21st. ValuEngine downgraded shares of McClatchy Company (The) from a sell rating to a strong sell rating in a report on Friday, September 1st.

Shares of McClatchy Company (NYSE MNI) traded up 4.74% during midday trading on Thursday, hitting $8.17. 41,510 shares of the company were exchanged. The stock’s 50-day moving average is $7.24 and its 200-day moving average is $9.25. The stock’s market cap is $62.27 million. McClatchy Company has a one year low of $5.75 and a one year high of $19.00.

McClatchy Company (The) (NYSE:MNI) last released its quarterly earnings data on Friday, July 21st. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.19). The business had revenue of $225.12 million for 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 anticipate that McClatchy Company will post ($6.11) EPS for the current year.

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Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of McClatchy Company (The) by 1,102.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,845 shares of the company’s stock worth $101,000 after acquiring an additional 9,943 shares during the period. Stifel Financial Corp lifted its holdings in shares of McClatchy Company (The) by 9.3% during the 1st quarter. Stifel Financial Corp now owns 18,119 shares of the company’s stock worth $181,000 after acquiring an additional 1,535 shares during the period. Hancock Holding Co. bought a new position in shares of McClatchy Company (The) during the 2nd quarter worth about $181,000. Whitebox Advisors LLC bought a new position in shares of McClatchy Company (The) during the 1st quarter worth about $484,000. Finally, Highbridge Capital Management LLC bought a new position in shares of McClatchy Company (The) during the 1st quarter worth about $540,000. 35.62% of the stock is owned by institutional investors.

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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