Virginia S. Vasquez Sells 200,000 Shares of Scripps Networks Interactive Inc. (SNI) Stock
Scripps Networks Interactive Inc. (NASDAQ:SNI) major shareholder Virginia S. Vasquez sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $69.58, for a total transaction of $13,916,000.00. Following the completion of the transaction, the insider now owns 279,797 shares in the company, valued at $19,468,275.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Scripps Networks Interactive Inc. (NASDAQ:SNI) opened at 70.14 on Thursday. Scripps Networks Interactive Inc. has a 12-month low of $50.81 and a 12-month high of $73.71. The firm has a 50-day moving average price of $65.45 and a 200-day moving average price of $64.24. The company has a market cap of $9.06 billion, a P/E ratio of 11.59 and a beta of 1.12.
Scripps Networks Interactive (NASDAQ:SNI) last released its quarterly earnings data on Monday, November 7th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.31. Scripps Networks Interactive had a return on equity of 34.21% and a net margin of 23.37%. The business had revenue of $803.10 million for the quarter, compared to the consensus estimate of $794.62 million. During the same quarter in the previous year, the company posted $1.06 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Scripps Networks Interactive Inc. will post $5.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, November 28th. Scripps Networks Interactive’s dividend payout ratio is currently 16.53%.
Several research analysts recently weighed in on SNI shares. Jefferies Group decreased their price objective on shares of Scripps Networks Interactive from $69.00 to $67.00 and set a “hold” rating on the stock in a research report on Wednesday, August 10th. Evercore ISI cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research report on Wednesday, August 10th. Argus reiterated a “buy” rating and set a $100.00 price target on shares of Scripps Networks Interactive in a research report on Tuesday, August 16th. Citigroup Inc. reduced their price target on shares of Scripps Networks Interactive from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Finally, Moffett Nathanson cut shares of Scripps Networks Interactive from a “neutral” rating to a “sell” rating and reduced their price target for the company from $71.00 to $52.00 in a research report on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $68.73.
Institutional investors have recently added to or reduced their stakes in the stock. Boston Partners increased its position in Scripps Networks Interactive by 2,097.4% in the second quarter. Boston Partners now owns 1,407,636 shares of the company’s stock valued at $87,653,000 after buying an additional 1,343,577 shares in the last quarter. Schroder Investment Management Group increased its position in Scripps Networks Interactive by 95.2% in the second quarter. Schroder Investment Management Group now owns 2,148,028 shares of the company’s stock valued at $133,758,000 after buying an additional 1,047,600 shares in the last quarter. Morgan Stanley increased its position in Scripps Networks Interactive by 106.8% in the third quarter. Morgan Stanley now owns 917,578 shares of the company’s stock valued at $58,257,000 after buying an additional 473,775 shares in the last quarter. Capital International Investors increased its position in Scripps Networks Interactive by 26.7% in the third quarter. Capital International Investors now owns 1,927,750 shares of the company’s stock valued at $122,393,000 after buying an additional 406,250 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Scripps Networks Interactive during the third quarter valued at $25,515,000. 65.62% of the stock is currently owned by hedge funds and other institutional investors.
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About Scripps Networks Interactive
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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