434,396 USA Today Co. $TDAY Shares Acquired by Two Seas Capital LP

Key Points

• Two Seas Capital increased its USA Today stake by 3.1% in the third quarter, purchasing 434,396 shares to hold 14.5 million shares valued at approximately $91.2 million, or 9.88% of the company.
• Institutional investors own approximately 76.7% of USA Today, with several major funds—including BlackRock, Bank of America, and SG Americas Securities—recently establishing or adding positions.
• USA Today shares recently traded at $7.33, down 1.3%, while analysts maintain a consensus “Hold” rating and an average price target of $9.03.

Two Seas Capital LP increased its position in shares of USA Today Co. (NYSE:TDAY - Free Report) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,504,707 shares of the company's stock after buying an additional 434,396 shares during the quarter. USA Today comprises about 1.1% of Two Seas Capital LP's portfolio, making the stock its 12th biggest position. Two Seas Capital LP owned approximately 9.88% of USA Today worth $91,235,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of USA Today during the second quarter worth approximately $89,866,000. SG Americas Securities LLC acquired a new stake in USA Today in the 1st quarter valued at $35,972,000. Bank of America Corp DE acquired a new stake in USA Today in the 2nd quarter valued at $29,881,000. Miller Value Partners LLC bought a new stake in USA Today during the 4th quarter valued at $17,527,000. Finally, Whitefort Capital Management LP bought a new stake in USA Today during the 2nd quarter valued at $17,141,322. Institutional investors and hedge funds own 76.71% of the company's stock.

USA Today Stock Down 1.3%

USA Today stock traded down $0.10 during trading on Tuesday, hitting $7.33. 1,948,010 shares of the company were exchanged, compared to its average volume of 1,918,964. The business's 50 day moving average is $6.91 and its 200 day moving average is $7.40. USA Today Co. has a 52 week low of $3.42 and a 52 week high of $9.21. The company has a market capitalization of $1.08 billion, a P/E ratio of -24.43 and a beta of 1.40. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 5.74.

Analyst Ratings Changes

A number of research firms have weighed in on TDAY. Rosenblatt Securities reaffirmed a "buy" rating and issued a $10.00 price objective on shares of USA Today in a research note on Friday, August 7th. Citigroup reissued a "neutral" rating on shares of USA Today in a research report on Monday, August 24th. Citizens Jmp boosted their target price on shares of USA Today from $8.00 to $10.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of USA Today from a "buy" rating to a "hold" rating in a report on Monday, July 20th. Finally, Weiss Ratings cut shares of USA Today from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, USA Today presently has a consensus rating of "Hold" and an average price target of $9.03.

USA Today Company Profile

Gannett Co Inc invests in, owns, and operates local media assets in the United States. The company's principal products include 125 daily newspapers with total paid circulation of approximately 1.4 million; 314 weekly newspapers with total paid circulation of approximately 315,000 and total free circulation of approximately 1.9 million; 124 shoppers with total circulation of approximately 3.0 million; and 538 locally-focused Websites, including Internet and mobile devices with approximately 224 million page views per month.

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