Two Seas Capital LP Makes New Investment in USA Today Co. $TDAY

Two Seas Capital LP purchased a new stake in USA Today Co. (NYSE:TDAY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,070,311 shares of the company’s stock, valued at approximately $120,301,000. USA Today accounts for about 2.4% of Two Seas Capital LP’s holdings, making the stock its 9th biggest holding. Two Seas Capital LP owned 9.58% of USA Today as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ieq Capital LLC acquired a new stake in shares of USA Today during the 2nd quarter worth approximately $975,000. BlackRock Inc. bought a new position in USA Today during the second quarter worth $89,866,000. Deutsche Bank AG acquired a new stake in USA Today in the second quarter worth $1,211,000. Bank of New York Mellon Corp acquired a new stake in USA Today in the second quarter worth $4,263,000. Finally, Sandro Wealth Management LLC bought a new stake in USA Today in the second quarter valued at $562,000. 76.71% of the stock is currently owned by institutional investors.

USA Today Stock Performance

TDAY opened at $6.52 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 5.74. The company’s fifty day moving average price is $8.08 and its two-hundred day moving average price is $7.32. USA Today Co. has a 1-year low of $3.42 and a 1-year high of $9.21. The company has a market cap of $957.27 million, a price-to-earnings ratio of -21.73 and a beta of 1.40.

USA Today (NYSE:TDAY) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.07 earnings per share for the quarter. The firm 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%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TDAY shares. Citizens Jmp upped their price objective on shares of USA Today from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Tuesday, July 14th. Weiss Ratings restated a “sell (d+)” rating on shares of USA Today in a research note on Monday, August 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of USA Today in a research report on Friday, August 7th. Wall Street Zen downgraded USA Today from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Citigroup reaffirmed an “outperform” rating on shares of USA Today in a research note on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, USA Today presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.03.

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.