McClatchy (NYSEAMERICAN:MNI) Stock Price Down 65.2%

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McClatchy Co (NYSEAMERICAN:MNI) traded down 65.2% during mid-day trading on Friday . The stock traded as low as $0.35 and last traded at $0.49, 1,168,338 shares changed hands during mid-day trading. An increase of 4,508% from the average session volume of 25,353 shares. The stock had previously closed at $1.40.

MNI has been the topic of several recent analyst reports. Zacks Investment Research cut McClatchy from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Noble Financial restated a “buy” rating and set a $5.00 price objective on shares of McClatchy in a research note on Sunday, August 11th.

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

A number of large investors have recently modified their holdings of the business. Creative Planning bought a new stake in shares of McClatchy during the 2nd quarter worth $27,000. Goelzer Investment Management Inc. bought a new stake in shares of McClatchy during the 2nd quarter worth $31,000. Eidelman Virant Capital bought a new stake in shares of McClatchy during the 2nd quarter worth $109,000. Finally, Cooperman Leon G raised its stake in shares of McClatchy by 44.9% during the 2nd quarter. Cooperman Leon G now owns 441,050 shares of the company’s stock worth $1,151,000 after purchasing an additional 136,633 shares during the period. Institutional investors and hedge funds own 35.62% of the company’s stock.

About McClatchy (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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