McClatchy Co (MNI) Major Shareholder Chatham Asset Management, Llc Acquires 59,567 Shares

McClatchy Co (NYSE:MNI) major shareholder Chatham Asset Management, Llc bought 59,567 shares of the stock in a transaction dated Friday, October 27th. The shares were bought at an average cost of $9.84 per share, with a total value of $586,139.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Wednesday, October 25th, Chatham Asset Management, Llc bought 70,840 shares of McClatchy stock. The shares were bought at an average cost of $9.08 per share, with a total value of $643,227.20.
  • On Monday, October 23rd, Chatham Asset Management, Llc bought 103,601 shares of McClatchy stock. The shares were bought at an average cost of $8.33 per share, with a total value of $862,996.33.
  • On Thursday, October 19th, Chatham Asset Management, Llc bought 22,970 shares of McClatchy stock. The shares were bought at an average cost of $7.50 per share, with a total value of $172,275.00.
  • On Monday, October 16th, Chatham Asset Management, Llc bought 61,930 shares of McClatchy stock. The shares were bought at an average cost of $7.44 per share, with a total value of $460,759.20.
  • On Friday, October 13th, Chatham Asset Management, Llc bought 76,344 shares of McClatchy stock. The shares were bought at an average cost of $7.84 per share, with a total value of $598,536.96.

McClatchy Co (MNI) opened at 9.79 on Tuesday. The stock’s 50 day moving average price is $7.95 and its 200 day moving average price is $8.71. The company’s market capitalization is $74.62 million. McClatchy Co has a 12-month low of $5.75 and a 12-month high of $15.84.

McClatchy (NYSE:MNI) last posted its quarterly earnings results on Monday, October 16th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.23). The company had revenue of $212.60 million for the quarter, compared to analysts’ expectations of $223.96 million. On average, equities research analysts anticipate that McClatchy Co will post ($6.11) earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its position in 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 in the last quarter. Stifel Financial Corp raised its position in McClatchy by 9.3% in the first quarter. Stifel Financial Corp now owns 18,119 shares of the company’s stock worth $181,000 after purchasing an additional 1,535 shares in the last quarter. Hancock Holding Co. acquired a new position in McClatchy in the second quarter worth about $181,000. Highbridge Capital Management LLC acquired a new position in McClatchy in the first quarter worth about $540,000. Finally, Susquehanna International Group LLP acquired a new position in McClatchy in the second quarter worth about $942,000. 35.62% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the company. Zacks Investment Research raised McClatchy from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. ValuEngine lowered McClatchy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Noble Financial reaffirmed a “hold” rating on shares of McClatchy in a report on Sunday, September 10th.

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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