Revenue Update on McClatchy Co(NYSE:MNI)

McClatchy Co(NYSE:MNI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Company reported revenue of $242.23M. Analysts estimated a revenue of $243.10M. Earnings per share were $-0.19. Analysts had estimated an EPS of $-0.54.

McClatchy Co (MNI) shares turned negative on Wednesdays trading session with the shares closing down -0.16 points or -0.94% at a volume of 56,195. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.1. The peak price level was also seen at $17.1 while the days lowest was $16.67. Finally the shares closed at $16.82. The 52-week high of the shares is $18 while the 52-week low is $7.5. According to the latest information available, the market cap of the company is $502 M.

Several Insider Transactions has been reported to the SEC. On Nov 5, 2015, Christian Hendricks (VP, Interactive Media) sold 25,000 shares at $1.51 per share price.Also, On Nov 4, 2015, Mark Zieman (Vice President – Operations) sold 29,000 shares at $1.39 per share price.On Mar 3, 2015, Elaine Lintecum (VP Finance and CFO) sold 9,112 shares at $4.63 per share price, according to the Form-4 filing with the securities and exchange commission.

The McClatchy Company is a news and information publisher. The Company’s primary business is the publication of newspapers and related digital and direct marketing products. The Company operates media companies providing news and advertising services in an array of digital and print formats. The Company’s operations include approximately 29 local media businesses that consist of daily newspapers websites and mobile apps mobile news and advertising niche publications direct marketing direct mail services and nearby community newspapers. The Company owns newspapers that include The Miami Herald The Kansas City Star The Sacramento Bee The Charlotte Observer The (Raleigh) News and Observer the (Fort Worth) Star-Telegram among others.

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