McClatchy (MNI) Debt Trading 2.3% Higher

An issue of McClatchy Co (NYSEAMERICAN:MNI) debt rose 2.3% against its face value during trading on Monday. The high-yield debt issue has a 6.875% coupon and will mature on March 15, 2029. The debt is now trading at $99.75. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of McClatchy from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Noble Financial restated a “hold” rating on shares of McClatchy in a research note on Tuesday, October 24th. Finally, ValuEngine upgraded shares of McClatchy from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 26th.

Shares of McClatchy Co (MNI) traded up $0.02 during mid-day trading on Wednesday, reaching $8.51. 206 shares of the company’s stock were exchanged, compared to its average volume of 9,593. The company has a market cap of $62.94, a price-to-earnings ratio of -0.17 and a beta of 1.24. 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 Co has a fifty-two week low of $5.75 and a fifty-two week high of $12.99.

In other McClatchy news, major shareholder Chatham Asset Management, Llc purchased 2,975 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was acquired at an average price of $10.42 per share, for a total transaction of $30,999.50. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have acquired a total of 26,855 shares of company stock valued at $257,692 in the last 90 days. 34.91% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp boosted its holdings in McClatchy by 14.7% during the 2nd quarter. Stifel Financial Corp now owns 20,778 shares of the company’s stock worth $197,000 after acquiring an additional 2,659 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in McClatchy by 28.0% during the 3rd quarter. Susquehanna International Group LLP now owns 129,025 shares of the company’s stock worth $953,000 after acquiring an additional 28,189 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in McClatchy by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 380,782 shares of the company’s stock worth $3,557,000 after acquiring an additional 14,170 shares during the last quarter. 35.62% of the stock is currently owned by hedge funds and other institutional investors.

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About McClatchy

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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