3,494,905 Shares in USA Today Co. $TDAY Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 3.49 million USA Today shares during the second quarter, worth approximately $29.9 million and representing a 2.38% stake.
• Institutional ownership is substantial, with hedge funds and other institutional investors holding 76.71% of the company; several major investors also initiated new positions during the first and second quarters.
• Analyst sentiment is mixed, resulting in an average “Hold” rating and an average price target of $9.03, compared with the stock’s reported opening price of $6.57.

Bank of America Corp DE purchased a new stake in shares of USA Today Co. (NYSE:TDAY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,494,905 shares of the company's stock, valued at approximately $29,881,000. Bank of America Corp DE owned 2.38% of USA Today at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Two Seas Capital LP purchased a new position in shares of USA Today during the second quarter valued at approximately $120,301,000. Whitefort Capital Management LP purchased a new stake in USA Today in the second quarter worth $17,141,322. Arrowstreet Capital Limited Partnership purchased a new stake in USA Today in the first quarter worth $1,532,000. P Schoenfeld Asset Management LP bought a new stake in USA Today in the second quarter valued at $6,392,955. Finally, Principal Financial Group Inc. bought a new stake in USA Today in the first quarter valued at $1,468,000. Hedge funds and other institutional investors own 76.71% of the company's stock.

USA Today Stock Performance

Shares of USA Today stock opened at $6.57 on Wednesday. USA Today Co. has a 12 month low of $3.42 and a 12 month high of $9.21. The firm has a market capitalization of $964.61 million, a P/E ratio of -21.90 and a beta of 1.35. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 5.74. The business has a fifty day simple moving average of $7.24 and a two-hundred day simple moving average of $7.39.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen lowered shares of USA Today from a "buy" rating to a "hold" rating in a report on Monday, July 20th. Citizens Jmp lifted their target price on shares of USA Today from $8.00 to $10.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 14th. Rosenblatt Securities reiterated a "buy" rating and set a $10.00 price target on shares of USA Today in a research report on Friday, August 7th. New Street Research set a $8.05 price target on shares of USA Today in a research note on Friday, June 5th. Finally, Citigroup restated a "neutral" rating on shares of USA Today in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $9.03.

USA Today Profile

USA TODAY is a U.S. news media brand that publishes national and local news through its print newspaper, website, mobile applications and other digital platforms. Its coverage includes politics, business, sports, entertainment, technology, lifestyle and consumer topics.

Founded in 1982, USA TODAY was developed as a nationally distributed newspaper with an emphasis on accessible writing, visual presentation and broad geographic coverage. The brand also produces newsletters, video content, podcasts and other digital media, and operates within the broader USA TODAY NETWORK of local news organizations.

USA TODAY is owned by Gannett Co, Inc, which operates newspapers and digital news properties across the United States.

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