FourWorld Capital Management LLC Takes $6.19 Million Position in USA Today Co. $TDAY

Key Points

• FourWorld Capital Management acquired 878,611 USA Today shares worth approximately $6.19 million, making the stock its fourth-largest holding and representing about 0.60% of the company.
• Institutional ownership remains substantial at 76.71%, with several other hedge funds and retirement systems also initiating or increasing positions in USA Today.
• Analysts give the stock a “Moderate Buy” consensus with an average price target of $9.03. Shares opened at $8.41, while the company’s latest quarter beat EPS expectations but reported a 4% year-over-year revenue decline.

FourWorld Capital Management LLC acquired a new stake in shares of USA Today Co. (NYSE:TDAY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 878,611 shares of the company's stock, valued at approximately $6,194,000. USA Today comprises about 3.3% of FourWorld Capital Management LLC's portfolio, making the stock its 4th biggest holding. FourWorld Capital Management LLC owned approximately 0.60% of USA Today at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV acquired a new position in USA Today in the first quarter worth $31,000. Public Employees Retirement System of Ohio acquired a new stake in shares of USA Today during the fourth quarter worth $45,000. PharVision Advisers LLC acquired a new stake in shares of USA Today during the third quarter worth $51,000. Public Employees Retirement Association of Colorado bought a new position in shares of USA Today in the 4th quarter worth about $53,000. Finally, Russell Investments Group Ltd. lifted its position in shares of USA Today by 1,130.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,749 shares of the company's stock worth $53,000 after buying an additional 11,713 shares during the last quarter. 76.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TDAY shares. Citigroup restated an "outperform" rating on shares of USA Today in a research note on Tuesday, July 14th. Wall Street Zen downgraded USA Today from a "buy" rating to a "hold" rating in a report on Monday, July 20th. Rosenblatt Securities reissued a "buy" rating and issued a $10.00 price target on shares of USA Today in a report on Thursday, June 4th. Weiss Ratings lowered USA Today from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, May 6th. Finally, New Street Research set a $8.05 price objective on USA Today in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $9.03.

USA Today Trading Up 0.1%

Shares of NYSE:TDAY opened at $8.41 on Monday. The company has a 50 day moving average of $8.13 and a 200-day moving average of $7.05. The firm has a market cap of $1.23 billion, a P/E ratio of 140.19 and a beta of 1.40. USA Today Co. has a twelve month low of $3.42 and a twelve month high of $8.90. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 6.33.

USA Today (NYSE:TDAY - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.17. USA Today had a return on equity of 21.75% and a net margin of 1.27%.The company had revenue of $548.49 million for the quarter, compared to analysts' expectations of $562.00 million. During the same period last year, the firm earned ($0.05) EPS. The firm's revenue for the quarter was down 4.0 on a year-over-year basis.

USA Today 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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