Hennessy Advisors Inc. Invests $10.58 Million in USA Today Co. $TDAY

Hennessy Advisors Inc. acquired a new position in shares of USA Today Co. (NYSE:TDAY) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,237,254 shares of the company’s stock, valued at approximately $10,579,000. Hennessy Advisors Inc. owned about 0.84% of USA Today at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of USA Today from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Citigroup reissued a “neutral” rating on shares of USA Today in a research report on Monday, August 24th. New Street Research set a $8.05 target price on shares of USA Today in a research report on Friday, June 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of USA Today in a research note on Friday, August 7th. Finally, Citizens Jmp increased their price target on USA Today from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.03.

USA Today Price Performance

TDAY stock opened at $6.38 on Friday. The firm has a market cap of $936.71 million, a P/E ratio of -21.27 and a beta of 1.40. 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 1 year low of $3.42 and a 1 year high of $9.21. The stock has a 50-day simple moving average of $7.94 and a 200-day simple moving average of $7.34.

USA Today (NYSE:TDAY) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.07 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.

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.