Engineers Gate Manager LP Raises Position in Scripps Networks Interactive, Inc (SNI)
Engineers Gate Manager LP increased its position in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 401.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,431 shares of the company’s stock after acquiring an additional 29,963 shares during the period. Engineers Gate Manager LP’s holdings in Scripps Networks Interactive were worth $2,557,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Mascoma Wealth Management LLC bought a new stake in Scripps Networks Interactive during the 2nd quarter worth $130,000. SRS Capital Advisors Inc. grew its position in Scripps Networks Interactive by 13.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,152 shares of the company’s stock worth $168,000 after acquiring an additional 252 shares during the last quarter. Federated Investors Inc. PA grew its position in Scripps Networks Interactive by 48.4% during the 2nd quarter. Federated Investors Inc. PA now owns 2,378 shares of the company’s stock worth $163,000 after acquiring an additional 776 shares during the last quarter. Assetmark Inc. grew its position in Scripps Networks Interactive by 2.7% during the 1st quarter. Assetmark Inc. now owns 2,542 shares of the company’s stock worth $199,000 after acquiring an additional 67 shares during the last quarter. Finally, Wade G W & Inc. bought a new stake in Scripps Networks Interactive during the 1st quarter worth $207,000. Institutional investors and hedge funds own 75.90% of the company’s stock.
In related news, Director Jeffrey Sagansky sold 1,159 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $87.83, for a total value of $101,794.97. Following the sale, the director now directly owns 9,457 shares of the company’s stock, valued at $830,608.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by company insiders.
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A number of brokerages recently weighed in on SNI. Royal Bank Of Canada boosted their price objective on Scripps Networks Interactive from $76.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. BidaskClub lowered Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd. Cowen and Company restated a “hold” rating and set a $90.00 price objective on shares of Scripps Networks Interactive in a research report on Friday. Argus lowered Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Citigroup Inc. upgraded Scripps Networks Interactive from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $66.00 to $90.00 in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. Scripps Networks Interactive presently has an average rating of “Hold” and a consensus price target of $84.20.
Scripps Networks Interactive, Inc (NASDAQ SNI) opened at 85.47 on Friday. Scripps Networks Interactive, Inc has a 52 week low of $59.32 and a 52 week high of $88.45. The firm has a market capitalization of $11.10 billion, a P/E ratio of 17.64 and a beta of 1.47. The stock has a 50 day moving average price of $85.70 and a 200-day moving average price of $75.97.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Thursday, August 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 1.40%. Scripps Networks Interactive’s payout ratio is presently 24.79%.
About Scripps Networks Interactive
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.
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