Victory Capital Management Inc. Sells 1,100,079 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Victory Capital Management Inc. decreased its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,802,588 shares of the company’s stock after selling 1,100,079 shares during the period. Victory Capital Management Inc. owned about 6.86% of E.W. Scripps worth $46,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SSP. Nisa Investment Advisors LLC increased its holdings in shares of E.W. Scripps by 93.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,210 shares of the company’s stock worth $42,000 after purchasing an additional 2,517 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in E.W. Scripps in the third quarter worth about $55,000. Jump Financial LLC bought a new stake in shares of E.W. Scripps during the 3rd quarter valued at about $87,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of E.W. Scripps by 22.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,321 shares of the company’s stock valued at $122,000 after purchasing an additional 2,766 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of E.W. Scripps by 112.6% in the 3rd quarter. Mackenzie Financial Corp now owns 25,687 shares of the company’s stock worth $129,000 after purchasing an additional 13,607 shares during the period. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Stock Up 1.2 %

SSP stock opened at $4.27 on Monday. The business’s 50-day moving average price is $3.81 and its 200-day moving average price is $5.98. The stock has a market cap of $362.18 million, a P/E ratio of -0.36 and a beta of 1.90. The E.W. Scripps Company has a twelve month low of $2.93 and a twelve month high of $11.02. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 3.91.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.48). The firm had revenue of $615.77 million for the quarter, compared to analysts’ expectations of $593.00 million. E.W. Scripps had a negative net margin of 41.33% and a positive return on equity of 1.81%. On average, equities research analysts forecast that The E.W. Scripps Company will post 0.74 EPS for the current year.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their price target on shares of E.W. Scripps from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th.

E.W. Scripps Company Profile

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.