McClatchy (MNI) Issues Earnings Results, Misses Estimates By $1.99 EPS

McClatchy (NYSEAMERICAN:MNI) released its earnings results on Friday. The company reported ($3.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($1.99), MarketWatch Earnings reports. The company had revenue of $191.07 million for the quarter, compared to analyst estimates of $195.40 million.

Shares of MNI opened at $7.85 on Friday. McClatchy has a one year low of $6.90 and a one year high of $11.04.

In other news, major shareholder Chatham Asset Management, Llc acquired 5,056 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was bought at an average price of $8.98 per share, with a total value of $45,402.88. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders bought 12,956 shares of company stock valued at $116,924. Insiders own 34.91% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bingham Osborn & Scarborough LLC bought a new position in shares of McClatchy in the 2nd quarter valued at about $159,000. Renaissance Technologies LLC grew its position in shares of McClatchy by 16.7% in the 2nd quarter. Renaissance Technologies LLC now owns 44,630 shares of the company’s stock valued at $444,000 after acquiring an additional 6,400 shares during the period. Finally, Royce & Associates LP grew its position 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 acquiring an additional 13,880 shares during the period. 35.62% of the stock is owned by institutional investors.

A number of brokerages have recently commented on MNI. Noble Financial reissued a “hold” rating on shares of McClatchy in a research report on Monday, July 30th. Zacks Investment Research raised shares of McClatchy from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Saturday, August 25th.

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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.

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Earnings History for McClatchy (NYSEAMERICAN:MNI)

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