Sona Asset Management US LLC Has $1.38 Million Stake in USA Today Co. $TDAY

Sona Asset Management US LLC reduced its stake in USA Today Co. (NYSE:TDAY) by 51.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 195,799 shares of the company’s stock after selling 204,201 shares during the quarter. Sona Asset Management US LLC’s holdings in USA Today were worth $1,380,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TDAY. Shah Capital Management acquired a new stake in shares of USA Today during the 4th quarter worth $9,270,000. JPMorgan Chase & Co. raised its stake in USA Today by 111.0% in the third quarter. JPMorgan Chase & Co. now owns 928,100 shares of the company’s stock valued at $3,833,000 after purchasing an additional 488,229 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in USA Today in the first quarter valued at about $596,000. P Schoenfeld Asset Management LP bought a new stake in USA Today during the fourth quarter worth about $2,060,000. Finally, UBS Group AG bought a new stake in USA Today during the fourth quarter worth about $4,262,000. Institutional investors and hedge funds own 76.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of USA Today in a research note on Thursday, June 4th. New Street Research set a $8.05 target price on shares of USA Today in a research report on Friday, June 5th. Citizens Jmp upped their price target on shares of USA Today from $8.00 to $10.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 14th. Citigroup reissued an “outperform” rating on shares of USA Today in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut USA Today from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.03.

USA Today Stock Performance

USA Today stock opened at $8.41 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 stock has a market cap of $1.23 billion, a PE ratio of 140.19 and a beta of 1.40. USA Today Co. has a 12-month low of $3.42 and a 12-month high of $8.90. The business’s 50-day moving average price is $8.13 and its two-hundred day moving average price is $7.05.

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

USA Today Company 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.