The Ameriprise Financial Inc. Increases Position in Scripps Networks Interactive Inc. (SNI)

The Ameriprise Financial Inc. Increases Position in Scripps Networks Interactive Inc. (SNI)

Ameriprise Financial Inc. boosted its position in shares of Scripps Networks Interactive Inc. (NASDAQ:SNI) by 26.3% during the second quarter, Holdings Channel reports. The firm owned 90,657 shares of the company’s stock after buying an additional 18,873 shares during the period. Ameriprise Financial Inc. owned about 0.07% of Scripps Networks Interactive worth $5,647,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Scripps Networks Interactive by 144.7% in the first quarter. Wellington Management Group LLP now owns 1,068,220 shares of the company’s stock valued at $69,969,000 after buying an additional 631,753 shares during the last quarter. Boston Advisors LLC bought a new position in shares of Scripps Networks Interactive during the second quarter valued at about $11,485,000. AMP Capital Investors Ltd boosted its position in shares of Scripps Networks Interactive by 55.8% in the first quarter. AMP Capital Investors Ltd now owns 59,753 shares of the company’s stock valued at $3,874,000 after buying an additional 21,405 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Scripps Networks Interactive by 3.9% in the first quarter. UBS Asset Management Americas Inc. now owns 200,318 shares of the company’s stock valued at $13,121,000 after buying an additional 7,531 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Scripps Networks Interactive by 155.4% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 21,696 shares of the company’s stock valued at $1,351,000 after buying an additional 13,200 shares during the last quarter. 66.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Scripps Networks Interactive Inc. (NASDAQ:SNI) traded down 1.22% during trading on Thursday, reaching $61.42. The company’s stock had a trading volume of 240,314 shares. The company has a 50 day moving average of $62.58 and a 200 day moving average of $63.91. The company has a market cap of $7.93 billion, a PE ratio of 10.43 and a beta of 1.18. Scripps Networks Interactive Inc. has a 12-month low of $50.81 and a 12-month high of $68.44.

Scripps Networks Interactive (NASDAQ:SNI) last issued its earnings results on Tuesday, August 9th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Scripps Networks Interactive had a return on equity of 35.33% and a net margin of 22.91%. The business had revenue of $892.80 million for the quarter, compared to the consensus estimate of $893.46 million. During the same period last year, the business posted $1.47 EPS. The company’s revenue was up 22.0% compared to the same quarter last year. On average, analysts anticipate that Scripps Networks Interactive Inc. will post $5.15 EPS for the current fiscal year.

Several research analysts have weighed in on SNI shares. Jefferies Group reissued a “hold” rating and issued a $67.00 price objective on shares of Scripps Networks Interactive in a research report on Tuesday, October 4th. Moffett Nathanson lowered Scripps Networks Interactive from a “neutral” rating to a “sell” rating and lowered their target price for the company from $71.00 to $52.00 in a research note on Tuesday, September 27th. Citigroup Inc. lowered their target price on Scripps Networks Interactive from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Argus restated a “buy” rating and issued a $100.00 target price on shares of Scripps Networks Interactive in a research note on Tuesday, August 16th. Finally, Evercore ISI lowered Scripps Networks Interactive from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $68.73.

In related news, major shareholder Edward W. Scripps sold 45,190 shares of Scripps Networks Interactive stock in a transaction on Monday, September 12th. The stock was sold at an average price of $62.17, for a total transaction of $2,809,462.30. Following the transaction, the insider now directly owns 130,000 shares in the company, valued at $8,082,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Julia Scripps Heidt sold 152,863 shares of Scripps Networks Interactive stock in a transaction on Friday, September 16th. The shares were sold at an average price of $60.44, for a total value of $9,239,039.72. Following the transaction, the insider now owns 208,766 shares in the company, valued at $12,617,817.04. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Scripps Networks Interactive Company Profile

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for linear and interactive video platforms, including television and the Internet brands. The Company’s segments include U.S. Networks, International Networks, and Corporate and Other. Its U.S. Networks segment includes its approximately six national television networks: HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country.

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