McClatchy Co (NYSEAMERICAN:MNI) Sees Significant Decline in Short Interest

McClatchy Co (NYSEAMERICAN:MNI) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 183,300 shares, a drop of 37.4% from the September 30th total of 292,800 shares. Based on an average daily trading volume, of 11,100 shares, the days-to-cover ratio is currently 16.5 days. Approximately 3.9% of the shares of the company are short sold.

MNI stock opened at $2.28 on Thursday. McClatchy has a one year low of $1.95 and a one year high of $8.25.

A number of hedge funds have recently added to or reduced their stakes in MNI. Creative Planning purchased a new position in McClatchy during the second quarter valued at $27,000. Goelzer Investment Management Inc. purchased a new position in McClatchy during the second quarter valued at $31,000. Eidelman Virant Capital purchased a new position in McClatchy during the second quarter valued at $109,000. Finally, Cooperman Leon G lifted its holdings in McClatchy by 44.9% during 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 own 35.62% of the company’s stock.

Several analysts recently commented on the stock. Noble Financial restated a “buy” rating and set a $5.00 price target on shares of McClatchy in a research report on Sunday, August 11th. Zacks Investment Research lowered shares of McClatchy from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

About McClatchy

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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