OP Asset Management Ltd Makes New $415,000 Investment in USA Today Co. $TDAY

OP Asset Management Ltd purchased a new stake in USA Today Co. (NYSE:TDAY) in the first quarter, according to its most recent filing with the SEC. The fund purchased 58,844 shares of the company’s stock, valued at approximately $415,000.

Several other large investors have also recently added to or reduced their stakes in TDAY. Two Seas Capital LP bought a new stake in USA Today during the fourth quarter valued at $74,946,000. Alta Fundamental Advisers LLC acquired a new position in shares of USA Today in the 4th quarter valued at about $58,346,000. Goldman Sachs Group Inc. acquired a new position in shares of USA Today in the 4th quarter valued at about $28,383,000. SG Americas Securities LLC bought a new stake in shares of USA Today during the 1st quarter valued at about $35,972,000. Finally, Whitefort Capital Management LP bought a new stake in shares of USA Today during the 4th quarter valued at about $24,590,000. 76.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TDAY shares. Weiss Ratings cut shares of USA Today from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Citigroup upped their target price on USA Today from $6.75 to $8.05 and gave the company a “neutral” rating in a report on Friday, June 5th. New Street Research set a $8.05 price target on USA Today in a research report on Friday, June 5th. Rosenblatt Securities restated a “buy” rating and set a $10.00 price objective on shares of USA Today in a research report on Thursday, June 4th. Finally, Wall Street Zen downgraded USA Today from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.53.

USA Today Stock Performance

TDAY stock opened at $8.56 on Wednesday. The company has a 50-day simple moving average of $7.68 and a 200 day simple moving average of $6.54. The company has a market capitalization of $1.26 billion, a P/E ratio of 142.69 and a beta of 1.42. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 6.33. USA Today Co. has a fifty-two week low of $3.42 and a fifty-two week high of $8.75.

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

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.