USA Today (NYSE:TDAY) Shares Down 11.8% - Here's What Happened

Key Points

• USA Today shares fell 11.8% to $7.64 in mid-day trading, reaching as low as $7.18, while trading volume rose 77% above its average.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $9.03, despite one recent downgrade to “Hold.”
• Institutional investors and hedge funds own 76.71% of the stock; the company also carries significant leverage, with a debt-to-equity ratio of 6.33 and a current ratio below 1.

USA Today Co. (NYSE:TDAY - Get Free Report) shares traded down 11.8% during mid-day trading on Thursday . The stock traded as low as $7.18 and last traded at $7.64. Approximately 3,008,765 shares were traded during mid-day trading, an increase of 77% from the average session volume of 1,696,167 shares. The stock had previously closed at $8.66.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. 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. Wall Street Zen cut shares of USA Today from a "buy" rating to a "hold" rating in a report on Monday, July 20th. New Street Research set a $8.05 price target on shares of USA Today in a research note on Friday, June 5th. Citigroup reiterated an "outperform" rating on shares of USA Today in a report on Tuesday, July 14th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $10.00 price objective on shares of USA Today in a research report on Thursday, June 4th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, USA Today has a consensus rating of "Moderate Buy" and a consensus price target of $9.03.

USA Today Trading Down 11.8%

The business has a fifty day moving average of $8.31 and a 200-day moving average of $7.25. The company has a debt-to-equity ratio of 6.33, a quick ratio of 0.77 and a current ratio of 0.79. The company has a market capitalization of $1.12 billion, a P/E ratio of 127.35 and a beta of 1.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Two Seas Capital LP bought a new position in USA Today in the 4th quarter valued at about $74,946,000. Alta Fundamental Advisers LLC bought a new stake in USA Today during the 4th quarter worth approximately $58,346,000. Goldman Sachs Group Inc. purchased a new stake in shares of USA Today in the fourth quarter worth approximately $28,383,000. SG Americas Securities LLC purchased a new stake in shares of USA Today in the first quarter worth approximately $35,972,000. Finally, Whitefort Capital Management LP bought a new position in shares of USA Today in the fourth quarter valued at approximately $24,590,000. 76.71% of the stock is currently owned by institutional investors and hedge funds.

USA Today Company 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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