Newspaper Stocks To Watch: The New York Times Company(NYSE:NYT), The McClatchy Company(NYSE:MNI), and Gannett Co., Inc.(NYSE:GCI)

Posted by Saimoon October 2, 2014 0 Comment 876 views


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The New York Times Company(NYSE:NYT) gained $1.08 during yesterday’s trading, a 9.63% increase in value that places the stock at a closing price of $12.30. The increase in value is a strong recovery for one of the most famous American newspapers, which closed at a new 52 week low of $11.22 on Sept. 30th. The New York Times Company(NYSE:NYT) had a trading volume of 4.01 million yesterday, a figure which is over five times higher than its three month average volume of 0.69 million. The company recently announced it would be cutting 100 newsroom jobs.

Will The New York Times Recover? View Our Free NYT Analysis.

The McClatchy Company(NYSE:MNI) rose one cent to reach a closing price of $3.37. The stock has fallen $2.43 since finishing at a three month closing price high of $5.80 on July 3rd, 2014. The McClatchy Company(NYSE:MNI), a California-based company which operates 30 daily newspapers in fifteen states, recently announced that it had closed its sale of its 25.6% stake of Cars.com to Gannett. The stock is highly liquid, with a bid price of $2.76 x 100 and an offer price of $4.30 x 100.

What Does The Future Hold For The McClatchy Company? Receive A Free MNI Analysis.

Gannett Co., Inc.(NYSE:GCI) suffered a 1.55% loss in value yesterday as the stock fell forty-six cents, moving to a new closing price of $29.21. The company has a market capitalization of $6.69 billion and 225.65 million tradeable shares. Gannett Co., Inc.(NYSE:GCI), which, as previously mentioned, acquired the rest of Cars.com from The McClatchy Company for $1.8 billion, had a trading volume of 2.67 million yesterday, a figure which is 0.84 million higher than its three month average volume of 1.83 million.

Is Now The Time To Invest In Gannett? Take A Look At Our Free GCI Analysis.

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