Shah Capital Management Sells 1,300,000 Shares of USA Today Co. $TDAY

Shah Capital Management cut its stake in shares of USA Today Co. (NYSE:TDAY) by 72.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 500,000 shares of the company’s stock after selling 1,300,000 shares during the period. USA Today comprises about 0.7% of Shah Capital Management’s investment portfolio, making the stock its 11th biggest position. Shah Capital Management owned approximately 0.34% of USA Today worth $3,525,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake 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 acquiring an additional 488,229 shares during the period. SG Americas Securities LLC raised its stake in USA Today by 172.6% during the 4th quarter. SG Americas Securities LLC now owns 5,898,579 shares of the company’s stock worth $26,839,000 after acquiring an additional 3,735,152 shares during the period. UBS Group AG purchased a new position in USA Today during the fourth quarter valued at approximately $4,262,000. Two Seas Capital LP purchased a new position in USA Today during the fourth quarter valued at approximately $74,946,000. Finally, P Schoenfeld Asset Management LP purchased a new position in USA Today during the fourth quarter valued at approximately $2,060,000. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TDAY. Wall Street Zen cut shares of USA Today from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Citigroup lifted their target price on shares of USA Today from $6.75 to $8.05 and gave the company a “neutral” rating in a research note on Friday, June 5th. Weiss Ratings downgraded shares of USA Today from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. New Street Research set a $8.05 price target on USA Today in a research note on Friday, June 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $10.00 price target on shares of USA Today in a report on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.53.

USA Today Trading Down 1.0%

Shares of TDAY opened at $8.56 on Wednesday. The firm has a market cap of $1.26 billion, a P/E ratio of 142.69 and a beta of 1.42. The company has a debt-to-equity ratio of 6.33, a current ratio of 0.79 and a quick ratio of 0.77. USA Today Co. has a 1 year low of $3.42 and a 1 year high of $8.75. The company has a 50 day simple moving average of $7.68 and a two-hundred day simple moving average of $6.54.

USA Today (NYSE:TDAY) last released its earnings results on Thursday, April 30th. The company reported $0.09 EPS for the quarter, topping 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 the consensus estimate of $562.00 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The company’s quarterly revenue was down 4.0 compared to the same quarter last year.

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.