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

Shah Capital Management cut its position in shares of USA Today Co. (NYSE:TDAY) by 72.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 500,000 shares of the company’s stock after selling 1,300,000 shares during the period. USA Today comprises approximately 0.7% of Shah Capital Management’s investment portfolio, making the stock its 11th biggest holding. Shah Capital Management’s holdings in USA Today were worth $3,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Two Seas Capital LP bought a new stake in USA Today in the 4th quarter worth approximately $74,946,000. Alta Fundamental Advisers LLC bought a new position in shares of USA Today during the 4th quarter valued at approximately $58,346,000. Goldman Sachs Group Inc. bought a new position in shares of USA Today during the 4th quarter valued at approximately $28,383,000. SG Americas Securities LLC purchased a new position in shares of USA Today in the first quarter valued at $35,972,000. Finally, Whitefort Capital Management LP purchased a new position in shares of USA Today in the fourth quarter valued at $24,590,000. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TDAY. Citigroup boosted their price target on shares of USA Today from $6.75 to $8.05 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Wall Street Zen cut shares of USA Today from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. New Street Research set a $8.05 target price on shares of USA Today in a report on Friday, June 5th. Weiss Ratings cut shares of USA Today from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $10.00 target price on shares of USA Today in a research report on Thursday, June 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.53.

USA Today Price Performance

Shares of USA Today stock opened at $8.56 on Wednesday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 142.69 and a beta of 1.42. The company has a debt-to-equity ratio of 6.33, a quick ratio of 0.77 and a current ratio of 0.79. The stock has a 50 day moving average price of $7.68 and a 200-day moving average price of $6.54. USA Today Co. has a one year low of $3.42 and a one year high of $8.75.

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

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.