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

USA Today Co. (NYSE:TDAY) 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 traded.

Analysts Set New Price Targets

TDAY has been the topic of several recent analyst reports. Citizens Jmp increased their target price on USA Today from $8.00 to $10.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 14th. Rosenblatt Securities restated a “buy” rating and issued a $10.00 price target on shares of USA Today in a research note on Friday, August 7th. New Street Research set a $8.05 price target on USA Today in a report on Friday, June 5th. Citigroup reaffirmed an “outperform” rating on shares of USA Today in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded USA Today from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, USA Today has a consensus rating of “Moderate Buy” and a consensus target price of $9.03.

USA Today Stock Down 1.0%

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

Institutional Investors Weigh In On USA Today

Large investors have recently made changes to their positions in the company. KBC Group NV bought a new position in shares of USA Today in the 1st quarter worth approximately $31,000. Public Employees Retirement System of Ohio purchased a new stake in USA Today during the fourth quarter valued at approximately $45,000. Freestone Grove Partners LP purchased a new stake in USA Today during the second quarter valued at approximately $81,000. Public Employees Retirement Association of Colorado bought a new position in USA Today in the fourth quarter worth approximately $53,000. Finally, L2 Asset Management LLC bought a new position in USA Today in the second quarter worth approximately $90,000. 76.71% of the stock is currently owned by institutional investors.

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.