McClatchy (NYSEAMERICAN:MNI) Posts Earnings Results, Beats Estimates By $0.64 EPS

McClatchy (NYSEAMERICAN:MNI) issued its quarterly earnings results on Friday, July 27th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($1.36) by $0.64, Bloomberg Earnings reports. The company had revenue of $204.35 million for the quarter, compared to analyst estimates of $203.59 million.

NYSEAMERICAN:MNI opened at $9.74 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of -93.38. McClatchy has a 1-year low of $5.75 and a 1-year high of $11.04.

Several research analysts recently commented on the company. Noble Financial reissued a “hold” rating on shares of McClatchy in a research report on Monday, July 30th. Zacks Investment Research raised McClatchy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd.

In other news, major shareholder Chatham Asset Management, Llc purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 18th. The stock was acquired at an average cost of $10.31 per share, with a total value of $51,550.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 9,600 shares of company stock valued at $97,447. 34.91% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of MNI. Bingham Osborn & Scarborough LLC bought a new position in shares of McClatchy in the 2nd quarter valued at $159,000. Royce & Associates LP increased its stake in shares of McClatchy by 2.6% in the 2nd quarter. Royce & Associates LP now owns 557,186 shares of the company’s stock valued at $5,544,000 after purchasing an additional 13,880 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its stake in shares of McClatchy by 31.8% in the 1st quarter. Highbridge Capital Management LLC now owns 40,154 shares of the company’s stock valued at $371,000 after purchasing an additional 9,687 shares during the last quarter. Institutional investors own 35.62% of the company’s stock.

About McClatchy

The McClatchy Company provides news and advertising services in digital and print formats in the United States. Its publications include the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, The (Fort Worth) Star-Telegram, and The (Durham, NC) Herald-Sun.

Further Reading: Investing in Growth Stocks

Earnings History for McClatchy (NYSEAMERICAN:MNI)

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