McClatchy Co (MNI) Short Interest Up 6.6% in October

McClatchy Co (NYSEAMERICAN:MNI) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 945,519 shares, an increase of 6.6% from the October 13th total of 886,995 shares. Based on an average daily trading volume, of 60,563 shares, the short-interest ratio is presently 15.6 days. Approximately 19.1% of the shares of the stock are short sold.

In related news, major shareholder Chatham Asset Management, Llc bought 61,930 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was acquired at an average cost of $7.44 per share, with a total value of $460,759.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 455,373 shares of company stock valued at $3,917,614. 34.91% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp increased its stake in shares of McClatchy by 14.7% in the 2nd quarter. Stifel Financial Corp now owns 20,778 shares of the company’s stock valued at $197,000 after buying an additional 2,659 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 buying an additional 2,843 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of McClatchy by 1,102.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,845 shares of the company’s stock valued at $101,000 after buying an additional 9,943 shares during the period. Hancock Holding Co. acquired a new stake in shares of McClatchy in the 2nd quarter valued at $181,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of McClatchy in the 2nd quarter valued at $942,000. 35.62% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on MNI shares. Noble Financial reaffirmed a “hold” rating on shares of McClatchy in a report on Tuesday, October 24th. Zacks Investment Research cut McClatchy from a “hold” rating to a “strong sell” rating in a report on Thursday, October 26th. Finally, ValuEngine cut McClatchy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st.

Shares of McClatchy (NYSEAMERICAN:MNI) opened at $9.63 on Wednesday. McClatchy has a twelve month low of $5.75 and a twelve month high of $15.84. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of -93.38.

McClatchy (NYSEAMERICAN:MNI) last released its earnings results on Monday, October 16th. The company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.23). The firm had revenue of $212.60 million during the quarter, compared to the consensus estimate of $223.96 million.

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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.

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