E.W. Scripps (NASDAQ:SSP) Price Target Lowered to $7.00 at Wells Fargo & Company

E.W. Scripps (NASDAQ:SSPFree Report) had its price objective lowered by Wells Fargo & Company from $9.00 to $7.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

E.W. Scripps Stock Up 3.6 %

SSP stock opened at $5.87 on Friday. The company’s 50 day moving average price is $7.70 and its 200 day moving average price is $7.35. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.54 and a current ratio of 1.54. E.W. Scripps has a fifty-two week low of $4.85 and a fifty-two week high of $15.23. The firm has a market capitalization of $496.72 million, a price-to-earnings ratio of -0.75 and a beta of 2.09.

Institutional Trading of E.W. Scripps

A number of large investors have recently made changes to their positions in the company. UBS Group AG increased its stake in shares of E.W. Scripps by 6.2% during the fourth quarter. UBS Group AG now owns 16,022 shares of the company’s stock worth $211,000 after buying an additional 929 shares during the period. FMR LLC increased its stake in E.W. Scripps by 46.8% in the second quarter. FMR LLC now owns 3,109 shares of the company’s stock valued at $39,000 after purchasing an additional 991 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in E.W. Scripps by 3.0% in 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 during the last quarter. The Manufacturers Life Insurance Company increased its stake in E.W. Scripps by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,933 shares of the company’s stock valued at $228,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Creative Planning increased its stake in E.W. Scripps by 5.2% in the second quarter. Creative Planning now owns 25,488 shares of the company’s stock valued at $233,000 after purchasing an additional 1,261 shares during the last quarter. 66.30% of the stock is currently owned by hedge funds and other institutional investors.

About E.W. Scripps

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The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

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