747,714 Shares in USA Today Co. $TDAY Acquired by P Schoenfeld Asset Management LP

Key Points

• P Schoenfeld Asset Management LP acquired 747,714 shares of USA Today, representing 0.51% of the company and about 2.6% of the firm’s portfolio. Hedge funds and institutional investors collectively own 76.71% of USA Today.
• Analyst sentiment is mixed but leans positive: three analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $9.03.
• USA Today shares opened at $6.52, below their 50-day and 200-day moving averages. The company reported quarterly EPS of $0.07 on revenue of $536.34 million, but posted a negative net margin and negative return on equity.

P Schoenfeld Asset Management LP acquired a new stake in USA Today Co. (NYSE:TDAY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 747,714 shares of the company's stock, valued at approximately $6,392,955,000. USA Today makes up approximately 2.6% of P Schoenfeld Asset Management LP's portfolio, making the stock its 12th biggest position. P Schoenfeld Asset Management LP owned 0.51% of USA Today at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. KBC Group NV acquired a new stake in USA Today during the 1st quarter valued at $31,000. Public Employees Retirement System of Ohio acquired a new position in USA Today in the 4th quarter worth $45,000. Public Employees Retirement Association of Colorado acquired a new position in USA Today in the 4th quarter worth $53,000. Cruiser Capital Advisors LLC purchased a new position in USA Today in the 4th quarter valued at about $57,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of USA Today during the fourth quarter valued at about $57,000. Hedge funds and other institutional investors own 76.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TDAY shares. Rosenblatt Securities reiterated a "buy" rating and issued a $10.00 price target on shares of USA Today in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of USA Today in a research report on Monday, August 3rd. Citigroup reiterated an "outperform" rating on shares of USA Today in a research note on Tuesday, July 14th. Citizens Jmp raised their price target 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. Finally, Wall Street Zen lowered shares of USA Today from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.03.

USA Today Stock Up 0.8%

Shares of USA Today stock opened at $6.52 on Monday. The business has a 50-day moving average price of $8.08 and a 200 day moving average price of $7.33. USA Today Co. has a fifty-two week low of $3.42 and a fifty-two week high of $9.21. The firm has a market cap of $957.27 million, a P/E ratio of -21.73 and a beta of 1.40. The company has a quick ratio of 0.78, a current ratio of 0.81 and a debt-to-equity ratio of 5.74.

USA Today (NYSE:TDAY - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.07 EPS for the quarter. The company had revenue of $536.34 million for the quarter. USA Today had a negative return on equity of 21.13% and a negative net margin of 1.81%.

USA Today Company Profile

Gannett Co, Inc NYSE: GCI is a media and marketing solutions company headquartered in McLean, Virginia. As the largest U.S. newspaper publisher by circulation, Gannett publishes USA Today alongside more than 260 local news brands. The company’s multimedia platforms include daily and weekly newspapers, websites, mobile apps and a network of subscription-based digital products.

In addition to journalism and content production, Gannett offers a suite of digital marketing services designed to help small and medium-sized businesses grow online.

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