Sona Asset Management US LLC Has $1.38 Million Stake in USA Today Co. $TDAY

Key Points

• Sona Asset Management US LLC cut its USA Today stake by 51.1% in the first quarter, selling 204,201 shares and retaining 195,799 shares valued at approximately $1.38 million.
• Other institutions initiated or increased positions, contributing to institutional and hedge-fund ownership of 76.71% of USA Today’s shares.
• USA Today beat quarterly EPS expectations at $0.09 versus an $0.08 loss estimate, but revenue fell 4% year over year to $548.49 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $9.03.

Sona Asset Management US LLC reduced its holdings in shares of USA Today Co. (NYSE:TDAY - Free Report) by 51.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 195,799 shares of the company's stock after selling 204,201 shares during the quarter. Sona Asset Management US LLC owned approximately 0.13% of USA Today worth $1,380,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FourWorld Capital Management LLC bought a new stake in USA Today in the 1st quarter valued at $6,194,000. Arrowstreet Capital Limited Partnership acquired a new stake in USA Today during the 1st quarter valued at $1,532,000. Sei Investments Co. bought a new position in USA Today during the first quarter worth $130,000. State of Wyoming boosted its position in USA Today by 18.0% during the first quarter. State of Wyoming now owns 50,563 shares of the company's stock worth $356,000 after purchasing an additional 7,728 shares during the period. Finally, Cetera Investment Advisers acquired a new position in shares of USA Today in the first quarter valued at $84,000. 76.71% of the stock is owned by institutional investors and hedge funds.

USA Today Stock Performance

Shares of NYSE TDAY opened at $8.41 on Monday. The company has a debt-to-equity ratio of 6.33, a current ratio of 0.79 and a quick ratio of 0.77. The stock's fifty day moving average price is $8.13 and its two-hundred day moving average price is $7.05. USA Today Co. has a one year low of $3.42 and a one year high of $8.90. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 140.19 and a beta of 1.40.

USA Today (NYSE:TDAY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, topping 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 firm had revenue of $548.49 million for the quarter, compared to analysts' expectations of $562.00 million. During the same quarter last year, the business earned ($0.05) EPS. The company's quarterly revenue was down 4.0 compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of USA Today from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Citigroup reaffirmed an "outperform" rating on shares of USA Today in a report on Tuesday, July 14th. Rosenblatt Securities reiterated a "buy" rating and issued a $10.00 price target on shares of USA Today in a research note on Thursday, June 4th. New Street Research set a $8.05 price target on shares of USA Today in a report on Friday, June 5th. Finally, Citizens Jmp raised their price objective 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. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.03.

About USA Today

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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