Insider Buying: McClatchy Co (MNI) Major Shareholder Purchases $598,536.96 in Stock

McClatchy Co (NYSE:MNI) major shareholder Chatham Asset Management, Llc purchased 76,344 shares of the stock in a transaction on Friday, October 13th. The shares were purchased at an average price of $7.84 per share, with a total value of $598,536.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Chatham Asset Management, Llc also recently made the following trade(s):

  • On Monday, October 16th, Chatham Asset Management, Llc purchased 61,930 shares of McClatchy stock. The shares were purchased at an average price of $7.44 per share, with a total value of $460,759.20.

Shares of McClatchy Co (MNI) opened at 7.6699 on Thursday. McClatchy Co has a 12 month low of $5.75 and a 12 month high of $18.94. The stock’s market cap is $58.46 million. The stock’s 50 day moving average is $7.60 and its 200 day moving average is $8.76.

McClatchy (NYSE:MNI) last released its quarterly earnings results on Monday, October 16th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.23). McClatchy had a negative return on equity of 2,313.90% and a negative net margin of 16.63%. The company had revenue of $212.60 million for the quarter, compared to analyst estimates of $223.96 million. Analysts predict that McClatchy Co will post ($6.11) earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP acquired a new stake in shares of McClatchy during the second quarter worth approximately $942,000. Tower Research Capital LLC TRC grew its position in shares of McClatchy by 1,102.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,845 shares of the company’s stock worth $101,000 after buying an additional 9,943 shares in the last quarter. Stifel Financial Corp grew its position in shares of McClatchy by 14.7% during the second quarter. Stifel Financial Corp now owns 20,778 shares of the company’s stock worth $197,000 after buying an additional 2,659 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of McClatchy by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 380,782 shares of the company’s stock worth $3,557,000 after buying an additional 14,170 shares in the last quarter. Finally, Hancock Holding Co. acquired a new stake in shares of McClatchy during the second quarter worth approximately $181,000. 35.62% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on MNI. Zacks Investment Research upgraded shares of McClatchy from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Noble Financial reiterated a “hold” rating on shares of McClatchy in a report on Sunday, September 10th. Finally, ValuEngine cut shares of McClatchy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st.

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.

Insider Buying and Selling by Quarter for McClatchy (NYSE:MNI)

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