USA Today (NYSE:TDAY) Shares Gap Down – Here’s Why

USA Today Co. (NYSE:TDAY) shares gapped down prior to trading on Monday . The stock had previously closed at $7.04, but opened at $6.71. USA Today shares last traded at $7.03, with a volume of 525,784 shares.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TDAY. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of USA Today in a report on Friday, August 7th. New Street Research set a $8.05 target price on USA Today in a research note on Friday, June 5th. Citizens Jmp increased their price target on shares of USA Today from $8.00 to $10.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of USA Today in a research report on Monday, August 3rd. Finally, Citigroup reissued an “outperform” rating on shares of USA Today in a research note on Tuesday, July 14th. Three equities 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, the company currently has an average rating of “Moderate Buy” and an average price target of $9.03.

USA Today Stock Down 1.0%

The stock has a market capitalization of $1.02 billion, a P/E ratio of -23.23 and a beta of 1.40. The stock has a 50 day moving average price of $8.19 and a 200-day moving average price of $7.30. The company has a debt-to-equity ratio of 5.74, a current ratio of 0.81 and a quick ratio of 0.78.

Institutional Trading of USA Today

A number of institutional investors have recently made changes to their positions in TDAY. Abel Hall LLC grew its position in USA Today by 12.9% during 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 last quarter. PFG Investments LLC increased its stake in USA Today by 3.2% during the 1st quarter. PFG Investments LLC now owns 54,243 shares of the company’s stock valued at $382,000 after purchasing an additional 1,700 shares in the last quarter. First Trust Advisors LP raised its holdings in USA Today by 0.6% in the first 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 during the last quarter. Legal & General Group Plc raised its holdings in USA Today by 2.4% in the second 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. lifted its stake in shares of USA Today by 4.4% in the first 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.

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.