USA Today (NYSE:TDAY) Shares Gap Up - Here's Why

Key Points

• USA Today shares jumped: The stock opened at $6.57 versus a prior close of $6.29 and later traded at $7.12 on volume of more than 812,000 shares.
• Analyst sentiment remains mixed: Citizens JMP raised its price target to $10 with an outperform rating, but other firms maintained neutral, hold or sell views. The consensus rating is “Hold,” with a target price of $9.03.
• Institutional ownership is substantial: Several investment firms recently initiated positions, and institutional investors collectively own 76.71% of the company’s shares.

USA Today Co. (NYSE:TDAY - Get Free Report) shares gapped up before the market opened on Thursday. The stock had previously closed at $6.29, but opened at $6.57. USA Today shares last traded at $7.12, with a volume of 812,083 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TDAY shares. Citizens Jmp upped their price target on USA Today from $8.00 to $10.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 14th. New Street Research set a $8.05 price objective on shares of USA Today in a research report on Friday, June 5th. Weiss Ratings downgraded shares of USA Today from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, September 9th. Wall Street Zen lowered shares of USA Today from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Citigroup reaffirmed a "neutral" rating on shares of USA Today in a research note on Monday, August 24th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $9.03.

USA Today Stock Performance

The company has a market capitalization of $1.01 billion, a P/E ratio of -22.87 and a beta of 1.35. The business has a 50 day moving average of $6.98 and a 200 day moving average of $7.39. The company has a quick ratio of 0.78, a current ratio of 0.81 and a debt-to-equity ratio of 5.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TDAY. KBC Group NV bought a new stake in USA Today in the first quarter worth $31,000. Integrated Wealth Concepts LLC purchased a new position in shares of USA Today in the 2nd quarter worth $48,000. Public Employees Retirement System of Ohio purchased a new position in shares of USA Today in the 2nd quarter worth $62,000. Freestone Grove Partners LP bought a new stake in shares of USA Today in the 2nd quarter worth about $81,000. Finally, L2 Asset Management LLC bought a new stake in shares of USA Today in the 2nd quarter worth about $90,000. 76.71% of the stock is currently owned by institutional investors.

About USA Today

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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