Mcclatchy Co. (NYSE:MNI) is Attracting Smart Money


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Mcclatchy Co. (NYSE:MNI) reported that Cobas Asset Management, Sgiic, S.a. has picked up 521,267 of common stock as of 2017-06-13.

The acquisition brings the aggregate amount owned by Cobas Asset Management, Sgiic, S.a. to a total of 521,267 representing less than 10.07% stake in the company.

For those not familiar with the company, The McClatchy Company is a news and information publisher of various publications, such as the Miami Herald, The Kansas City Star, 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. The Company’s Eastern Segment consists primarily of newspaper operations in the Southeast and Florida. The Company operates 30 media companies in 29 United States markets in 14 states, providing each of these communities with news and advertising services in a range of digital and print formats. The Company’s operations include approximately 30 local media businesses United States that consist of daily newspapers, Websites and mobile applications, publications, direct marketing, direct mail services and community newspapers.

A glance at Mcclatchy Co. (NYSE:MNI)’s key stats reveals a current market capitalization of 81.11 Million based on 5.15 Million shares outstanding and a price at last close of $10.91 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-05-19, Forman picked up 3,000 at a purchase price of $8.22. This brings their total   holding to 14,500 as of the date of the filing.

On the sell side, the most recent transaction saw Contrarius unload 11,707 shares at a sale price of $9.24. This brings their total holding to 506,712.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Mcclatchy Co. (NYSE:MNI) as things move forward to see if its progress aligns with these transactions.

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