FourWorld Capital Management LLC Makes New Investment in USA Today Co. $TDAY

FourWorld Capital Management LLC acquired a new position in USA Today Co. (NYSE:TDAY) during the first quarter, Holdings Channel reports. The institutional investor acquired 878,611 shares of the company’s stock, valued at approximately $6,194,000. USA Today makes up about 3.3% of FourWorld Capital Management LLC’s portfolio, making the stock its 4th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TDAY. Arrowstreet Capital Limited Partnership acquired a new position in USA Today during the first quarter worth $1,532,000. Sei Investments Co. acquired a new stake in shares of USA Today in the first quarter worth about $130,000. State of Wyoming boosted its stake in shares of USA Today by 18.0% during the 1st quarter. State of Wyoming now owns 50,563 shares of the company’s stock worth $356,000 after acquiring an additional 7,728 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of USA Today during the 1st quarter worth about $84,000. Finally, First Trust Advisors LP increased its holdings in shares of USA Today by 0.6% during the 1st quarter. First Trust Advisors LP now owns 396,086 shares of the company’s stock valued at $2,792,000 after acquiring an additional 2,287 shares during the last quarter. Institutional investors own 76.71% of the company’s stock.

USA Today Price Performance

Shares of TDAY stock opened at $8.41 on Monday. The stock’s fifty day simple moving average is $8.13 and its 200 day simple moving average is $7.05. The company has a debt-to-equity ratio of 6.33, a current ratio of 0.79 and a quick ratio of 0.77. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 140.19 and a beta of 1.40. USA Today Co. has a one year low of $3.42 and a one year high of $8.90.

USA Today (NYSE:TDAY) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.17. USA Today had a return on equity of 21.75% and a net margin of 1.27%.The business had revenue of $548.49 million for the quarter, compared to analyst estimates of $562.00 million. During the same period in the prior year, the company earned ($0.05) EPS. USA Today’s revenue for the quarter was down 4.0 on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of USA Today from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. New Street Research set a $8.05 price objective on shares of USA Today in a report on Friday, June 5th. Wall Street Zen lowered shares of USA Today from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Citizens Jmp lifted their target price on shares of USA Today from $8.00 to $10.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 14th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $10.00 target price 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, USA Today currently has an average rating of “Moderate Buy” and a consensus price target of $9.03.

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.