Miller Value Partners LLC Buys New Position in USA Today Co. $TDAY

Miller Value Partners LLC purchased a new stake in USA Today Co. (NYSE:TDAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,401,080 shares of the company’s stock, valued at approximately $11,979,000. USA Today comprises about 2.8% of Miller Value Partners LLC’s holdings, making the stock its 12th biggest holding. Miller Value Partners LLC owned approximately 0.95% of USA Today as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Abel Hall LLC lifted its position in shares of USA Today by 12.9% during the first quarter. Abel Hall LLC now owns 14,516 shares of the company’s stock valued at $102,000 after purchasing an additional 1,660 shares in the last quarter. PFG Investments LLC increased its stake in USA Today by 3.2% in the 1st quarter. PFG Investments LLC now owns 54,243 shares of the company’s stock valued at $382,000 after buying an additional 1,700 shares during the last quarter. First Trust Advisors LP lifted its position in shares of USA Today by 0.6% during the 1st quarter. First Trust Advisors LP now owns 396,086 shares of the company’s stock worth $2,792,000 after buying an additional 2,287 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of USA Today by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 137,622 shares of the company’s stock worth $493,000 after buying an additional 3,193 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of USA Today by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,362 shares of the company’s stock worth $244,000 after buying an additional 3,588 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 $6.48 on Wednesday. The stock has a fifty day simple moving average of $8.03 and a two-hundred day simple moving average of $7.34. USA Today Co. has a 1-year low of $3.42 and a 1-year high of $9.21. The firm has a market cap of $951.39 million, a price-to-earnings ratio of -21.60 and a beta of 1.40. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 5.74.

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. USA Today had a negative return on equity of 21.13% and a negative net margin of 1.81%.The firm had revenue of $536.34 million for the quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. New Street Research set a $8.05 price target on USA Today in a report on Friday, June 5th. Citizens Jmp upped their price objective on USA Today from $8.00 to $10.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of USA Today in a research report on Monday, August 3rd. Wall Street Zen cut USA Today from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price target on shares of USA Today in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, USA Today presently has an average rating of “Hold” and a consensus price target of $9.03.

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.