P Schoenfeld Asset Management LP Makes New $6.39 Million Investment in USA Today Co. $TDAY

P Schoenfeld Asset Management LP purchased a new stake in shares of USA Today Co. (NYSE:TDAY) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 747,714 shares of the company’s stock, valued at approximately $6,392,955. USA Today accounts for approximately 0.0% of P Schoenfeld Asset Management LP’s holdings, making the stock its 12th biggest holding. P Schoenfeld Asset Management LP owned about 0.51% of USA Today at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TDAY. Two Seas Capital LP acquired a new stake in USA Today during the 4th quarter worth approximately $74,946,000. Alta Fundamental Advisers LLC acquired a new position in shares of USA Today during the fourth quarter worth $58,346,000. BlackRock Inc. purchased a new stake in shares of USA Today during the second quarter worth approximately $89,866,000. Vanguard Group Inc. lifted its holdings in shares of USA Today by 2.0% in the third quarter. Vanguard Group Inc. now owns 8,536,026 shares of the company’s stock valued at $35,254,000 after purchasing an additional 164,690 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in USA Today in the fourth quarter valued at $28,383,000. Institutional investors and hedge funds own 76.71% of the company’s stock.

USA Today Price Performance

Shares of TDAY stock traded down $0.06 during trading on Friday, hitting $6.34. The company had a trading volume of 782,792 shares, compared to its average volume of 1,830,406. The firm has a market capitalization of $930.84 million, a P/E ratio of -21.13 and a beta of 1.40. The stock’s 50-day moving average price is $7.97 and its 200 day moving average price is $7.35. The company has a debt-to-equity ratio of 5.74, a quick ratio of 0.78 and a current ratio of 0.81. USA Today Co. has a one year low of $3.42 and a one year high of $9.21.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TDAY. Citizens Jmp boosted their target price on USA Today from $8.00 to $10.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of USA Today in a research report on Monday, August 3rd. Citigroup reissued a “neutral” rating on shares of USA Today in a research note on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price objective on shares of USA Today in a report on Friday, August 7th. Finally, New Street Research set a $8.05 price objective on USA Today in a research report on Friday, June 5th. Two research 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 stock presently has an average rating of “Hold” and a consensus target price of $9.03.

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.