McClatchy (MNI) Rating Lowered to Sell at Zacks Investment Research

McClatchy (NYSEAMERICAN:MNI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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) “

MNI has been the subject of several other reports. Noble Financial restated a “hold” rating on shares of McClatchy in a research report on Tuesday, October 24th. ValuEngine upgraded shares of McClatchy from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 26th.

Shares of McClatchy (MNI) opened at $8.59 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of -93.38. The stock has a market cap of $65.17, a P/E ratio of -0.17 and a beta of 1.24. McClatchy has a 12-month low of $5.75 and a 12-month high of $12.99.

In other news, major shareholder Chatham Asset Management, Llc purchased 7,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average cost of $9.88 per share, for a total transaction of $69,160.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 20,608 shares of company stock valued at $201,657 over the last 90 days. 34.91% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp boosted its position in shares of McClatchy by 14.7% in the second quarter. Stifel Financial Corp now owns 20,778 shares of the company’s stock worth $197,000 after purchasing an additional 2,659 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of McClatchy by 1,102.3% in the second quarter. Tower Research Capital LLC TRC now owns 10,845 shares of the company’s stock worth $101,000 after purchasing an additional 9,943 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of McClatchy by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 380,782 shares of the company’s stock worth $3,557,000 after purchasing an additional 14,170 shares during the period. Finally, Susquehanna International Group LLP boosted its position in shares of McClatchy by 28.0% in the third quarter. Susquehanna International Group LLP now owns 129,025 shares of the company’s stock worth $953,000 after purchasing an additional 28,189 shares during the period. Institutional investors and hedge funds own 35.62% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was first published by Stock Observer and is the property of of Stock Observer. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The correct version of this piece can be accessed at https://www.thestockobserver.com/2018/02/06/mcclatchy-mni-rating-lowered-to-sell-at-zacks-investment-research.html.

McClatchy Company Profile

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.

Get a free copy of the Zacks research report on McClatchy (MNI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for McClatchy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McClatchy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply