E.W. Scripps Co. (SSP) Stake Increased by Victory Capital Management Inc.
Victory Capital Management Inc. raised its stake in E.W. Scripps Co. (NYSE:SSP) by 20.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,041,538 shares of the company’s stock after buying an additional 510,063 shares during the period. Victory Capital Management Inc. owned approximately 3.64% of E.W. Scripps worth $48,360,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position 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 purchased a new position in E.W. Scripps during the second quarter worth approximately $129,000. Quantbot Technologies LP purchased a new position in E.W. Scripps during the third quarter worth approximately $141,000. Tower Research Capital LLC TRC increased its position 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 purchased a new position in E.W. Scripps during the second quarter worth approximately $165,000. Hedge funds and other institutional investors own 76.78% of the company’s stock.
E.W. Scripps Co. (NYSE:SSP) traded up 0.46% during midday trading on Wednesday, hitting $17.37. The stock had a trading volume of 39,566 shares. The stock has a market cap of $1.44 billion, a P/E ratio of 206.79 and a beta of 1.69. E.W. Scripps Co. has a 12-month low of $12.16 and a 12-month high of $22.06. The company’s 50-day moving average price is $14.75 and its 200 day moving average price is $16.10.
E.W. Scripps (NYSE:SSP) last issued 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 had revenue of $233 million for the quarter, compared to analysts’ expectations of $256.75 million. During the same quarter in the prior year, the firm posted ($0.29) EPS. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts predict that E.W. Scripps Co. will post $0.75 earnings per share for the current fiscal year.
SSP has been the topic of a number of research reports. Wells Fargo & Co. restated a “hold” rating on shares of E.W. Scripps in a report on Monday, September 26th. Zacks Investment Research downgraded E.W. Scripps from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Jefferies Group restated a “hold” rating and issued a $14.00 price objective on shares of E.W. Scripps in a report on Monday, November 7th. Finally, Benchmark Co. cut 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. The stock currently has a consensus rating of “Buy” and an average target price of $20.06.
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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