Trading Report: The Nationwide Fund Advisors Acquires 522 Shares of E.W. Scripps Co. (SSP)

The Nationwide Fund Advisors Acquires 522 Shares of E.W. Scripps Co. (SSP)

Nationwide Fund Advisors boosted its stake in E.W. Scripps Co. (NYSE:SSP) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 47,946 shares of the company’s stock after buying an additional 522 shares during the period. Nationwide Fund Advisors owned about 0.06% of E.W. Scripps worth $759,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SSP. JPMorgan Chase & Co. raised its stake in E.W. Scripps by 14.1% in the second quarter. JPMorgan Chase & Co. now owns 3,584,231 shares of the company’s stock valued at $56,775,000 after buying an additional 443,918 shares during the last quarter. Kennedy Capital Management Inc. raised its stake in E.W. Scripps by 14.8% in the first quarter. Kennedy Capital Management Inc. now owns 1,099,579 shares of the company’s stock valued at $17,142,000 after buying an additional 141,979 shares during the last quarter. Royce & Associates LP raised its stake in E.W. Scripps by 18.4% in the second quarter. Royce & Associates LP now owns 1,010,910 shares of the company’s stock valued at $16,013,000 after buying an additional 157,260 shares during the last quarter. Nordea Investment Management AB raised its stake in E.W. Scripps by 44.0% in the second quarter. Nordea Investment Management AB now owns 720,312 shares of the company’s stock valued at $11,410,000 after buying an additional 220,220 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its stake in E.W. Scripps by 1.2% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 683,711 shares of the company’s stock valued at $10,830,000 after buying an additional 7,840 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

E.W. Scripps Co. (NYSE:SSP) opened at 13.29 on Friday. The firm has a 50-day moving average price of $15.24 and a 200 day moving average price of $16.13. E.W. Scripps Co. has a 12 month low of $13.09 and a 12 month high of $22.91. The company’s market cap is $1.11 billion.

E.W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. The firm had revenue of $228 million for the quarter, compared to analyst estimates of $198.13 million. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. Equities research analysts predict that E.W. Scripps Co. will post $1.09 EPS for the current year.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Saturday, July 9th. Jefferies Group restated a “hold” rating on shares of E.W. Scripps in a report on Monday, August 22nd. Finally, Wells Fargo & Co. restated a “hold” rating on shares of E.W. Scripps in a report on Monday, September 26th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$22.05.

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.

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