Two Seas Capital LP Invests $74.95 Million in USA Today Co. $TDAY

Two Seas Capital LP acquired a new position in shares of USA Today Co. (NYSE:TDAY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,552,621 shares of the company’s stock, valued at approximately $74,946,000. USA Today accounts for about 1.5% of Two Seas Capital LP’s portfolio, making the stock its 8th largest holding. Two Seas Capital LP owned approximately 9.89% of USA Today as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TDAY. Alta Fundamental Advisers LLC bought a new position in shares of USA Today during the 4th quarter worth about $58,346,000. Goldman Sachs Group Inc. bought a new position in shares of USA Today during the 4th quarter worth about $28,383,000. SG Americas Securities LLC lifted its holdings in shares of USA Today by 172.6% during the 4th quarter. SG Americas Securities LLC now owns 5,898,579 shares of the company’s stock worth $26,839,000 after acquiring an additional 3,735,152 shares during the period. Geode Capital Management LLC bought a new position in shares of USA Today during the 4th quarter worth about $15,925,000. Finally, Shah Capital Management bought a new position in shares of USA Today during the 4th quarter worth about $9,270,000. 76.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TDAY has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of USA Today from $6.75 to $8.05 and gave the stock a “neutral” rating in a report on Friday. Weiss Ratings downgraded shares of USA Today from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Citizens Jmp raised their price objective on shares of USA Today from $6.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of USA Today in a report on Thursday. Finally, New Street Research set a $8.05 price target on shares of USA Today in a report on Friday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.53.

USA Today Trading Down 0.5%

TDAY opened at $8.13 on Friday. The firm has a 50 day simple moving average of $7.37 and a 200 day simple moving average of $6.12. USA Today Co. has a fifty-two week low of $3.15 and a fifty-two week high of $8.28. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 135.52 and a beta of 1.42. The company has a debt-to-equity ratio of 6.33, a current ratio of 0.79 and a quick ratio of 0.77.

USA Today 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.