P Schoenfeld Asset Management LP Acquires New Shares in USA Today Co. $TDAY

P Schoenfeld Asset Management LP acquired a new position in shares of USA Today Co. (NYSE:TDAY) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 747,714 shares of the company’s stock, valued at approximately $6,392,955,000. USA Today comprises 2.6% of P Schoenfeld Asset Management LP’s holdings, making the stock its 12th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in USA Today by 47.6% in the first quarter. AQR Capital Management LLC now owns 566,994 shares of the company’s stock valued at $1,639,000 after buying an additional 182,824 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of USA Today by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,362 shares of the company’s stock worth $244,000 after acquiring an additional 3,588 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of USA Today by 2.0% in the 1st quarter. Empowered Funds LLC now owns 951,925 shares of the company’s stock worth $2,751,000 after acquiring an additional 18,933 shares during the period. Strs Ohio acquired a new stake in shares of USA Today in the 1st quarter worth about $187,000. Finally, Creative Planning lifted its position in USA Today by 110.9% in the 2nd quarter. Creative Planning now owns 79,251 shares of the company’s stock valued at $284,000 after purchasing an additional 41,674 shares during the last quarter. 76.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TDAY has been the subject of a number of analyst reports. Citizens Jmp boosted their target price on shares of USA Today from $8.00 to $10.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 14th. Wall Street Zen lowered shares of USA Today from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of USA Today in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of USA Today in a research report on Monday, August 3rd. Finally, Citigroup reissued an “outperform” rating on shares of USA Today in a report on Tuesday, July 14th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $9.03.

USA Today Trading Up 0.8%

Shares of NYSE:TDAY opened at $6.52 on Monday. The company has a 50 day moving average of $8.08 and a 200-day moving average of $7.33. 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 firm has a market cap of $957.27 million, a P/E ratio of -21.73 and a beta of 1.40. USA Today Co. has a twelve month low of $3.42 and a twelve month high of $9.21.

USA Today (NYSE:TDAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.07 EPS for the quarter. USA Today had a negative net margin of 1.81% and a negative return on equity of 21.13%. The business had revenue of $536.34 million for the quarter.

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.