USA Today (NYSE:TDAY) Shares Gap Up – Here’s Why

USA Today Co. (NYSE:TDAY) shares gapped up prior to trading 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 traded.

Analyst Ratings Changes

TDAY has been the topic of a number of recent research reports. Citigroup restated a “neutral” rating on shares of USA Today in a research report on Monday, August 24th. Weiss Ratings cut USA Today from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, September 9th. New Street Research set a $8.05 price target on USA Today in a report on Friday, June 5th. Rosenblatt Securities restated a “buy” rating and issued a $10.00 price target on shares of USA Today in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded USA Today from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.03.

USA Today Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 5.74. The company has a market capitalization of $1.01 billion, a PE ratio of -22.87 and a beta of 1.35. The stock’s 50-day moving average is $6.98 and its two-hundred day moving average is $7.39.

Institutional Investors Weigh In On USA Today

Several hedge funds and other institutional investors have recently modified their holdings of the business. Two Seas Capital LP bought a new stake in shares of USA Today during the 2nd quarter worth approximately $120,301,000. BlackRock Inc. bought a new stake in shares of USA Today in the 2nd quarter valued at about $89,866,000. Alta Fundamental Advisers LLC purchased a new stake in USA Today during the fourth quarter valued at approximately $58,346,000. SG Americas Securities LLC purchased a new stake in USA Today during the first quarter valued at approximately $35,972,000. Finally, Bank of America Corp DE acquired a new stake in USA Today in the second quarter valued at approximately $29,881,000. 76.71% of the stock is currently owned by hedge funds and other 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.