Minerva Advisors LLC Boosts Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Minerva Advisors LLC boosted its holdings in shares of The E.W. Scripps Company (NASDAQ:SSP) by 48.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,192,441 shares of the company’s stock after acquiring an additional 389,481 shares during the quarter. E.W. Scripps comprises 1.5% of Minerva Advisors LLC’s portfolio, making the stock its 20th biggest holding. Minerva Advisors LLC’s holdings in E.W. Scripps were worth $2,671,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sei Investments Co. purchased a new stake in shares of E.W. Scripps in the 2nd quarter worth $38,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of E.W. Scripps in the 2nd quarter worth $39,000. Diversified Trust Co purchased a new stake in shares of E.W. Scripps in the 3rd quarter worth $42,000. CWM LLC raised its position in shares of E.W. Scripps by 4,620.6% in the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after acquiring an additional 13,908 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of E.W. Scripps in the 1st quarter worth $50,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.

E.W. Scripps Price Performance

NASDAQ:SSP opened at $1.73 on Tuesday. The stock has a 50 day moving average of $2.33 and a two-hundred day moving average of $2.64. The E.W. Scripps Company has a 12 month low of $1.68 and a 12 month high of $9.35. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The firm had revenue of $646.30 million during the quarter, compared to analyst estimates of $634.01 million. During the same period in the prior year, the company posted ($0.15) earnings per share. Analysts expect that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Benchmark reduced their price target on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

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.