McClatchy (NYSEAMERICAN:MNI) Shares Up 19.4%

McClatchy Co (NYSEAMERICAN:MNI) shares shot up 19.4% on Monday . The company traded as high as $0.45 and last traded at $0.43, 373,011 shares were traded during trading. An increase of 859% from the average session volume of 38,887 shares. The stock had previously closed at $0.36.

A number of brokerages have weighed in on MNI. Zacks Investment Research cut shares of McClatchy from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Noble Financial reiterated a “buy” rating and set a $3.00 price target on shares of McClatchy in a research report on Sunday, November 17th.

McClatchy (NYSEAMERICAN:MNI) last announced its quarterly earnings results on Wednesday, November 13th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.54) by $1.38. The company had revenue of $167.44 million for the quarter.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning acquired a new position in shares of McClatchy in the second quarter valued at approximately $27,000. Goelzer Investment Management Inc. acquired a new position in shares of McClatchy in the second quarter valued at approximately $31,000. Finally, Cooperman Leon G grew its holdings in shares of McClatchy by 44.9% in the second quarter. Cooperman Leon G now owns 441,050 shares of the company’s stock valued at $1,151,000 after purchasing an additional 136,633 shares in the last quarter. Institutional investors and hedge funds own 35.62% of the company’s stock.

McClatchy Company Profile (NYSEAMERICAN:MNI)

The McClatchy Company publishes newspapers and news Websites 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, and The (Fort Worth) Star-Telegram. It also provides niche publications and community newspapers, as well as other print and digital direct marketing services.

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