Strs Ohio Increases Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Strs Ohio increased its holdings in The E.W. Scripps Company (NASDAQ:SSP – Get Rating) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,200 shares of the company’s stock after buying an additional 900 shares during the quarter. Strs Ohio’s holdings in E.W. Scripps were worth $193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Louisiana State Employees Retirement System purchased a new position in shares of E.W. Scripps in the third quarter worth approximately $312,000. Summit Global Investments boosted its holdings in shares of E.W. Scripps by 70.1% in the second quarter. Summit Global Investments now owns 36,400 shares of the company’s stock worth $454,000 after buying an additional 15,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of E.W. Scripps by 71.7% in the second quarter. Goldman Sachs Group Inc. now owns 870,193 shares of the company’s stock worth $10,851,000 after buying an additional 363,438 shares during the last quarter. Jane Street Group LLC lifted its holdings in E.W. Scripps by 79.3% during the second quarter. Jane Street Group LLC now owns 19,993 shares of the company’s stock valued at $249,000 after purchasing an additional 8,842 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in E.W. Scripps by 3.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 34,371 shares of the company’s stock valued at $429,000 after purchasing an additional 995 shares in the last quarter. Hedge funds and other institutional investors own 66.37% of the company’s stock.

Insider Activity

In related news, major shareholder Jimmy R. Scripps acquired 101,523 shares of E.W. Scripps stock in a transaction dated Thursday, November 3rd. The shares were purchased at an average price of $12.26 per share, for a total transaction of $1,244,671.98. Following the completion of the transaction, the insider now directly owns 636,187 shares in the company, valued at approximately $7,799,652.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other E.W. Scripps news, major shareholder Jimmy R. Scripps purchased 101,523 shares of E.W. Scripps stock in a transaction that occurred on Thursday, November 3rd. The shares were bought at an average price of $12.26 per share, for a total transaction of $1,244,671.98. Following the completion of the transaction, the insider now owns 636,187 shares of the company’s stock, valued at approximately $7,799,652.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa A. Knutson sold 9,950 shares of the business’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $14.14, for a total transaction of $140,693.00. Following the completion of the sale, the insider now owns 49,844 shares in the company, valued at approximately $704,794.16. The disclosure for this sale can be found here. Company insiders own 3.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SSP shares. StockNews.com started coverage on shares of E.W. Scripps in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company downgraded shares of E.W. Scripps from an “overweight” rating to an “equal weight” rating and set a $11.00 price target on the stock. in a report on Wednesday, November 9th.

E.W. Scripps Trading Up 3.2 %

E.W. Scripps stock opened at $13.77 on Friday. The stock has a market cap of $1.15 billion, a P/E ratio of 10.85 and a beta of 1.85. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.40 and a quick ratio of 1.40. The E.W. Scripps Company has a 1 year low of $9.90 and a 1 year high of $23.61. The firm’s 50 day moving average price is $13.93 and its 200-day moving average price is $14.06.

E.W. Scripps (NASDAQ:SSP – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.14). The company had revenue of $612.10 million for the quarter, compared to the consensus estimate of $638.50 million. E.W. Scripps had a net margin of 6.81% and a return on equity of 10.33%. On average, equities analysts predict that The E.W. Scripps Company will post 1.87 earnings per share for the current fiscal year.

E.W. Scripps Company Profile

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The E.W. Scripps Co engages in the television and newspaper publishing. It operates through the following business segments: Local Media, National Media, and Other. The Local Media segment comprises local broadcast television stations and their related digital operations. The National Media segment consists of national media businesses including over-the-air broadcast networks, Katz, podcast business, Midroll, next generation national news network, Newsy, and other national brands.