Miller Value Partners LLC Acquires New Shares in USA Today Co. $TDAY

Miller Value Partners LLC bought a new stake in shares of USA Today Co. (NYSE:TDAY) during the second quarter, Holdings Channel.com reports. The fund bought 1,401,080 shares of the company’s stock, valued at approximately $11,979,000. USA Today comprises 2.8% of Miller Value Partners LLC’s investment portfolio, making the stock its 12th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Abel Hall LLC boosted its holdings in USA Today by 12.9% in the 1st 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 during the period. PFG Investments LLC increased its position in shares of USA Today by 3.2% in the first quarter. PFG Investments LLC now owns 54,243 shares of the company’s stock worth $382,000 after purchasing an additional 1,700 shares during the last quarter. First Trust Advisors LP raised its stake in USA Today by 0.6% in the first quarter. First Trust Advisors LP now owns 396,086 shares of the company’s stock valued at $2,792,000 after purchasing an additional 2,287 shares in the last quarter. Legal & General Group Plc lifted its position in USA Today by 2.4% during the second quarter. Legal & General Group Plc now owns 137,622 shares of the company’s stock valued at $493,000 after purchasing an additional 3,193 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Analyst Upgrades and Downgrades

TDAY has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of USA Today in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of USA Today in a report on Monday, August 3rd. Citizens Jmp raised their price objective on USA Today from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Tuesday, July 14th. Citigroup restated a “neutral” rating on shares of USA Today in a research report on Monday. Finally, Wall Street Zen cut shares of USA Today from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.03.

USA Today Price Performance

TDAY opened at $6.48 on Wednesday. The company has a debt-to-equity ratio of 5.74, a current ratio of 0.81 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $8.03 and its 200 day simple moving average is $7.34. The firm has a market cap of $951.39 million, a price-to-earnings ratio of -21.60 and a beta of 1.40. USA Today Co. has a 1 year low of $3.42 and a 1 year high of $9.21.

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. 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 during the quarter.

About USA Today

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.