Price T Rowe Associates Inc. MD Has $382,000 Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Price T Rowe Associates Inc. MD increased its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 48.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 97,162 shares of the company’s stock after buying an additional 31,811 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in E.W. Scripps were worth $382,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SSP. Cove Street Capital LLC boosted its holdings in shares of E.W. Scripps by 34.2% during the first quarter. Cove Street Capital LLC now owns 3,703,082 shares of the company’s stock worth $14,553,000 after purchasing an additional 944,328 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of E.W. Scripps by 21.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,203,306 shares of the company’s stock worth $9,614,000 after purchasing an additional 210,673 shares during the period. Ariston Services Group acquired a new stake in shares of E.W. Scripps during the fourth quarter worth approximately $1,500,000. Wolverine Asset Management LLC boosted its holdings in shares of E.W. Scripps by 173.7% during the fourth quarter. Wolverine Asset Management LLC now owns 123,332 shares of the company’s stock worth $985,000 after purchasing an additional 78,276 shares during the period. Finally, Wittenberg Investment Management Inc. raised its position in E.W. Scripps by 113.6% during the first quarter. Wittenberg Investment Management Inc. now owns 141,007 shares of the company’s stock valued at $554,000 after acquiring an additional 75,007 shares in the last quarter. 67.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SSP shares. StockNews.com lowered shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of E.W. Scripps from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. Finally, Benchmark cut their price objective on shares of E.W. Scripps from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday.

E.W. Scripps Price Performance

Shares of SSP opened at $2.05 on Thursday. The E.W. Scripps Company has a twelve month low of $1.96 and a twelve month high of $9.35. The firm has a market cap of $175.05 million, a PE ratio of -0.18 and a beta of 1.79. The company has a debt-to-equity ratio of 3.82, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s 50 day moving average price is $2.89 and its 200 day moving average price is $3.78.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). E.W. Scripps had a negative net margin of 39.87% and a positive return on equity of 3.17%. The firm had revenue of $573.63 million during the quarter, compared to the consensus estimate of $586.65 million. During the same period in the prior year, the business earned ($0.09) EPS. As a group, research analysts expect that The E.W. Scripps Company will post 0.75 EPS for the current fiscal year.

About E.W. Scripps

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.