McClatchy Co (MNI) Bonds Trading 1.1% Higher

An issue of McClatchy Co (NYSE:MNI) bonds rose 1.1% as a percentage of their face value during trading on Friday. 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 $79.50 and were trading at $81.38 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

A number of research analysts have recently issued reports on MNI shares. Noble Financial reiterated a “hold” rating on shares of McClatchy in a research note on Friday, July 21st. Zacks Investment Research upgraded shares of McClatchy from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, ValuEngine lowered shares of McClatchy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st.

Shares of McClatchy Co (NYSE:MNI) traded up 3.41% on Friday, hitting $8.35. 27,163 shares of the stock were exchanged. McClatchy Co has a one year low of $5.75 and a one year high of $18.94. The firm’s 50 day moving average price is $7.28 and its 200 day moving average price is $8.89. The firm’s market cap is $63.64 million.

McClatchy (NYSE:MNI) last issued its quarterly earnings data on Friday, July 21st. The company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ 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 had a negative net margin of 16.63% and a negative return on equity of 2,313.90%. Equities analysts anticipate that McClatchy Co will post ($6.11) earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Whitebox Advisors LLC bought a new stake in McClatchy in the 1st quarter valued at about $484,000. Dimensional Fund Advisors LP lifted its position in McClatchy by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 366,612 shares of the company’s stock valued at $3,545,000 after purchasing an additional 2,843 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in McClatchy in the 1st quarter valued at about $540,000. Stifel Financial Corp lifted its position in McClatchy by 9.3% in the 1st quarter. Stifel Financial Corp now owns 18,119 shares of the company’s stock valued at $181,000 after purchasing an additional 1,535 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new stake in McClatchy in the 2nd quarter valued at about $942,000. Hedge funds and other institutional investors own 35.62% of the company’s stock.

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About McClatchy

The McClatchy Company is a news and information publisher of various publications, such as the Miami Herald, 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. Its Western Segment consists of its newspaper operations in California, the Northwest and the Midwest.

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