OP Asset Management Ltd Takes $415,000 Position in USA Today Co. $TDAY

OP Asset Management Ltd acquired a new position in USA Today Co. (NYSE:TDAY) during the first quarter, Holdings Channel reports. The firm acquired 58,844 shares of the company’s stock, valued at approximately $415,000.

Several other institutional investors have also modified their holdings of TDAY. Shah Capital Management acquired a new position in USA Today during the fourth quarter worth about $9,270,000. JPMorgan Chase & Co. boosted its position in shares of USA Today by 111.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 928,100 shares of the company’s stock valued at $3,833,000 after purchasing an additional 488,229 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of USA Today by 172.6% in the 4th quarter. SG Americas Securities LLC now owns 5,898,579 shares of the company’s stock worth $26,839,000 after purchasing an additional 3,735,152 shares during the last quarter. UBS Group AG bought a new stake in shares of USA Today in the 4th quarter worth approximately $4,262,000. Finally, Two Seas Capital LP bought a new stake in shares of USA Today in the 4th quarter worth approximately $74,946,000. Institutional investors and hedge funds own 76.71% of the company’s stock.

Analyst Upgrades and Downgrades

TDAY has been the subject of several recent research reports. New Street Research set a $8.05 target price on shares of USA Today in a research note on Friday, June 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of USA Today in a report on Thursday, June 4th. Wall Street Zen downgraded USA Today from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Citigroup raised their price objective on USA Today from $6.75 to $8.05 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Finally, Weiss Ratings downgraded USA Today from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.53.

USA Today Trading Down 1.0%

USA Today stock opened at $8.56 on Wednesday. USA Today Co. has a 52 week low of $3.42 and a 52 week high of $8.75. 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 firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 142.69 and a beta of 1.42. The company has a 50 day moving average price of $7.68 and a 200 day moving average price of $6.54.

USA Today (NYSE:TDAY) last announced its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.17. The company had revenue of $548.49 million for 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 company’s revenue was down 4.0 on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) EPS.

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.