The E.W. Scripps Company (NASDAQ:SSP) Short Interest Update

The E.W. Scripps Company (NASDAQ:SSP) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 2,970,000 shares, a decrease of 17.7% from the September 30th total of 3,610,000 shares. Based on an average daily volume of 644,100 shares, the short-interest ratio is presently 4.6 days.

Institutional Trading of E.W. Scripps

Several large investors have recently modified their holdings of SSP. Teton Advisors Inc. grew its position in shares of E.W. Scripps by 0.8% during the first quarter. Teton Advisors Inc. now owns 342,600 shares of the company’s stock worth $1,346,000 after buying an additional 2,800 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in E.W. Scripps by 229.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,761 shares of the company’s stock valued at $86,000 after acquiring an additional 7,496 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in E.W. Scripps by 19.6% during the 1st quarter. Russell Investments Group Ltd. now owns 53,382 shares of the company’s stock worth $210,000 after acquiring an additional 8,745 shares in the last quarter. Sei Investments Co. acquired a new position in E.W. Scripps during the 2nd quarter worth $38,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of E.W. Scripps in the 2nd quarter worth about $39,000. 67.81% of the stock is currently owned by institutional investors and hedge funds.

E.W. Scripps Stock Up 5.3 %

NASDAQ:SSP traded up $0.16 during trading hours on Wednesday, hitting $3.17. The stock had a trading volume of 34,349 shares, compared to its average volume of 866,395. The company has a market cap of $272.99 million, a PE ratio of -0.82 and a beta of 1.74. The business has a 50 day simple moving average of $2.22 and a two-hundred day simple moving average of $2.77. E.W. Scripps has a 1-year low of $1.68 and a 1-year high of $9.35. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). E.W. Scripps had a negative net margin of 11.06% and a positive return on equity of 2.94%. The firm had revenue of $573.63 million for the quarter, compared to analyst estimates of $586.65 million. During the same period in the previous year, the business posted ($0.09) earnings per share.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SSP shares. Benchmark cut their price target on shares of E.W. Scripps from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, August 12th. StockNews.com cut shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th.

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.