USA Today Sees Unusually High Options Volume (NYSE:TDAY)

Key Points

• Unusual options activity: Traders bought 4,832 call options in USA Today, a 2,316% increase over the average daily volume of 200 calls.
• Shares rose 10.2%: The stock gained $0.64 to close at $6.93, while trading volume exceeded twice its average daily level.
• Analyst consensus remains cautious: USA Today has a consensus “Hold” rating and an average price target of $9.03, despite several institutional investors recently taking new stakes.

USA Today Co. (NYSE:TDAY - Get Free Report) saw some unusual options trading on Thursday. Stock traders bought 4,832 call options on the stock. This is an increase of 2,316% compared to the average daily volume of 200 call options.

USA Today Stock Up 10.2%

NYSE TDAY traded up $0.64 during trading hours on Thursday, reaching $6.93. 4,104,407 shares of the company's stock were exchanged, compared to its average volume of 1,890,540. The company's 50-day moving average is $6.98 and its two-hundred day moving average is $7.39. The company has a debt-to-equity ratio of 5.74, a quick ratio of 0.78 and a current ratio of 0.81. USA Today has a one year low of $3.42 and a one year high of $9.21. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -23.10 and a beta of 1.35.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Two Seas Capital LP bought a new stake in USA Today during the 2nd quarter worth about $120,301,000. BlackRock Inc. bought a new stake in USA Today during the second quarter worth about $89,866,000. Alta Fundamental Advisers LLC acquired a new position in USA Today during the fourth quarter valued at approximately $58,346,000. SG Americas Securities LLC acquired a new position in USA Today during the first quarter valued at approximately $35,972,000. Finally, Bank of America Corp DE bought a new position in USA Today in the second quarter valued at approximately $29,881,000. Institutional investors and hedge funds own 76.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup reaffirmed a "neutral" rating on shares of USA Today in a research note on Monday, August 24th. Citizens Jmp lifted their price objective on USA Today from $8.00 to $10.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 14th. Rosenblatt Securities restated a "buy" rating and set a $10.00 target price on shares of USA Today in a research report on Friday, August 7th. New Street Research set a $8.05 target price on shares of USA Today in a research note on Friday, June 5th. Finally, Wall Street Zen cut shares of USA Today from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, USA Today presently has a consensus rating of "Hold" and an average target price of $9.03.

USA Today Company Profile

USA TODAY is a U.S. news media brand that publishes national and local news through its print newspaper, website, mobile applications and other digital platforms. Its coverage includes politics, business, sports, entertainment, technology, lifestyle and consumer topics.

Founded in 1982, USA TODAY was developed as a nationally distributed newspaper with an emphasis on accessible writing, visual presentation and broad geographic coverage. The brand also produces newsletters, video content, podcasts and other digital media, and operates within the broader USA TODAY NETWORK of local news organizations.

USA TODAY is owned by Gannett Co, Inc, which operates newspapers and digital news properties across the United States.

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