USA Today Co. $TDAY Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its USA Today stake by 954.9% in the first quarter, acquiring 147,062 additional shares for a total holding of 162,462 shares valued at approximately $1.15 million. Institutional investors collectively own 76.71% of the company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $9.03; targets include Citizens Jmp’s increase from $8 to $10, though some firms issued hold or sell ratings.
• USA Today shares opened at $8.62, near their 52-week high of $8.90. The company’s latest quarterly results beat earnings expectations at $0.09 per share, but revenue fell 4% year over year to $548.49 million.

Hsbc Holdings PLC lifted its stake in USA Today Co. (NYSE:TDAY - Free Report) by 954.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,462 shares of the company's stock after buying an additional 147,062 shares during the period. Hsbc Holdings PLC owned approximately 0.11% of USA Today worth $1,147,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TDAY. Abel Hall LLC raised its holdings in shares of USA Today by 12.9% during the 1st quarter. Abel Hall LLC now owns 14,516 shares of the company's stock valued at $102,000 after buying an additional 1,660 shares during the period. Lee Danner & Bass Inc. acquired a new stake in USA Today in the first quarter valued at approximately $596,000. HB Wealth Management LLC purchased a new stake in shares of USA Today during the first quarter valued at approximately $240,000. PFG Investments LLC lifted its position in shares of USA Today by 3.2% during the first quarter. PFG Investments LLC now owns 54,243 shares of the company's stock worth $382,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of USA Today in the first quarter valued at $310,000. Institutional investors and hedge funds own 76.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed an "outperform" rating on shares of USA Today in a research note on Tuesday, July 14th. Wall Street Zen cut shares of USA Today from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Citizens Jmp raised their target price on USA Today from $8.00 to $10.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 14th. 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 target on USA Today in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.03.

USA Today Stock Performance

Shares of TDAY opened at $8.62 on Wednesday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 143.69 and a beta of 1.40. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 6.33. The business's 50 day moving average is $8.17 and its two-hundred day moving average is $7.11. USA Today Co. has a 52-week low of $3.42 and a 52-week high of $8.90.

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

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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