400,000 Shares in USA Today Co. $TDAY Bought by P Schoenfeld Asset Management LP

P Schoenfeld Asset Management LP acquired a new stake in USA Today Co. (NYSE:TDAY) in the 4th quarter, HoldingsChannel reports. The fund acquired 400,000 shares of the company’s stock, valued at approximately $2,060,000. USA Today makes up 0.7% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 25th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in USA Today in the 3rd quarter worth $45,000. PharVision Advisers LLC purchased a new position in shares of USA Today in the third quarter worth about $51,000. Caprock Group LLC acquired a new position in shares of USA Today during the 3rd quarter worth approximately $53,000. Public Employees Retirement Association of Colorado acquired a new position in USA Today during the fourth quarter worth $53,000. Finally, Russell Investments Group Ltd. boosted its position in shares of USA Today by 1,130.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,749 shares of the company’s stock valued at $53,000 after acquiring an additional 11,713 shares during the last quarter. 76.71% of the stock is owned by hedge funds and other institutional investors.

USA Today Price Performance

Shares of NYSE TDAY opened at $7.74 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 6.33. The business’s 50 day moving average is $7.46 and its two-hundred day moving average is $6.25. USA Today Co. has a 52-week low of $3.15 and a 52-week high of $8.28. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 129.02 and a beta of 1.42.

Wall Street Analysts Forecast Growth

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

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.