Bislett Management LLC cut its stake in shares of E.W. Scripps Co. (NYSE:SSP) by 19.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,000 shares of the company’s stock after selling 75,000 shares during the period. E.W. Scripps makes up approximately 3.3% of Bislett Management LLC’s holdings, making the stock its 13th largest position. Bislett Management LLC owned 0.38% of E.W. Scripps worth $5,009,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. 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 approximately $129,000. Quantbot Technologies LP acquired a new stake in E.W. Scripps during the third quarter worth approximately $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 approximately $165,000. Institutional investors own 76.78% of the company’s stock.
E.W. Scripps Co. (NYSE:SSP) traded up 0.06% on Monday, hitting $16.98. The stock had a trading volume of 32,191 shares. E.W. Scripps Co. has a 1-year low of $12.16 and a 1-year high of $22.21. The company’s 50 day moving average is $14.72 and its 200-day moving average is $16.08. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 202.14 and a beta of 1.69.
E.W. Scripps (NYSE:SSP) last released its quarterly earnings results on Friday, November 4th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.14. E.W. Scripps had a net margin of 0.84% and a return on equity of 4.00%. The business earned $233 million during the quarter, compared to analyst estimates of $256.75 million. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. On average, analysts forecast that E.W. Scripps Co. will post $0.75 EPS for the current year.
Several research firms have issued reports on SSP. Zacks Investment Research downgraded E.W. Scripps from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Jefferies Group reaffirmed a “hold” rating and set a $14.00 price objective on shares of E.W. Scripps in a report on Monday, November 7th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of E.W. Scripps in a report on Monday, September 26th. Finally, Benchmark Co. reduced their price objective 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. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. E.W. Scripps presently has an average rating of “Buy” and an average price target of $20.06.
E.W. Scripps Company Profile