Sentry Investment Management LLC increased its position in shares of E.W. Scripps Co. (NYSE:SSP) by 48.0% during the third quarter, Holdings Channel reports. The institutional investor owned 168,492 shares of the company’s stock after buying an additional 54,665 shares during the period. Sentry Investment Management LLC owned about 0.20% of E.W. Scripps worth $2,679,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of SSP. Teacher Retirement System of Texas raised its stake in E.W. Scripps by 9.5% in the second quarter. Teacher Retirement System of Texas now owns 7,512 shares of the company’s stock worth $119,000 after buying an additional 653 shares during the period. Bank of Montreal Can acquired a new stake in E.W. Scripps during the second quarter worth about $129,000. Quantbot Technologies LP acquired a new stake in E.W. Scripps during the third quarter worth about $141,000. Tower Research Capital LLC TRC raised its stake in E.W. Scripps by 11,567.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock worth $146,000 after buying an additional 9,138 shares during the period. Finally, Mason Street Advisors LLC acquired a new stake in E.W. Scripps during the second quarter worth about $165,000. 76.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of E.W. Scripps Co. (NYSE:SSP) opened at 16.75 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 199.40 and a beta of 1.69. E.W. Scripps Co. has a 12 month low of $12.16 and a 12 month high of $22.21. The firm has a 50 day moving average price of $14.74 and a 200-day moving average price of $16.07.
E.W. Scripps (NYSE:SSP) last released its earnings results on Friday, November 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.14. E.W. Scripps had a return on equity of 4.00% and a net margin of 0.84%. The company had revenue of $233 million for the quarter, compared to the consensus estimate of $256.75 million. During the same quarter in the previous year, the company posted ($0.29) EPS. The business’s revenue was up 22.9% on a year-over-year basis. Analysts anticipate that E.W. Scripps Co. will post $0.75 earnings per share for the current fiscal year.
A number of research firms have issued reports on SSP. Benchmark Co. lowered their target price on E.W. Scripps from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, November 7th. Zacks Investment Research upgraded E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Saturday, July 30th. Jefferies Group reiterated a “hold” rating on shares of E.W. Scripps in a research report on Friday, August 5th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of E.W. Scripps in a research report on Monday, September 26th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. E.W. Scripps presently has an average rating of “Buy” and an average target price of $20.06.
About E.W. Scripps
The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company operates through segments, including television, radio, digital, and syndication and other. It serves audiences and businesses through a portfolio of television, radio and digital media brands.