Scripps Networks Interactive, Inc (SNI) Shares Sold by Pinebridge Investments L.P.
Pinebridge Investments L.P. reduced its position in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 17.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,041 shares of the company’s stock after selling 14,089 shares during the period. Pinebridge Investments L.P. owned about 0.05% of Scripps Networks Interactive worth $5,844,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNI. Welch & Forbes LLC purchased a new position in Scripps Networks Interactive in the third quarter valued at $204,000. KBC Group NV boosted its holdings in Scripps Networks Interactive by 17.0% in the third quarter. KBC Group NV now owns 10,492 shares of the company’s stock valued at $901,000 after purchasing an additional 1,528 shares during the period. Omni Partners LLP purchased a new position in Scripps Networks Interactive in the third quarter valued at $11,513,000. Mint Tower Capital Management B.V. purchased a new position in Scripps Networks Interactive in the third quarter valued at $429,000. Finally, Zeke Capital Advisors LLC purchased a new position in Scripps Networks Interactive in the third quarter valued at $386,000. Institutional investors and hedge funds own 60.95% of the company’s stock.
A number of research analysts recently issued reports on the company. Cowen reiterated a “hold” rating and issued a $90.00 target price on shares of Scripps Networks Interactive in a report on Friday, September 8th. Morgan Stanley raised their price target on Scripps Networks Interactive from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, August 24th. Royal Bank Of Canada restated a “hold” rating and issued a $90.00 price target on shares of Scripps Networks Interactive in a research note on Wednesday, September 20th. BidaskClub cut Scripps Networks Interactive from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Scripps Networks Interactive in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Scripps Networks Interactive currently has an average rating of “Hold” and a consensus price target of $85.62.
Scripps Networks Interactive (NASDAQ:SNI) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.09. Scripps Networks Interactive had a return on equity of 27.04% and a net margin of 17.46%. The firm had revenue of $825.53 million for the quarter, compared to analyst estimates of $838.63 million. During the same quarter last year, the company posted $1.26 earnings per share. analysts expect that Scripps Networks Interactive, Inc will post 5.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Thursday, November 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, November 29th. Scripps Networks Interactive’s dividend payout ratio is currently 12.85%.
In other Scripps Networks Interactive news, Director Jeffrey Sagansky sold 1,077 shares of Scripps Networks Interactive stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $79.61, for a total value of $85,739.97. Following the sale, the director now owns 7,520 shares of the company’s stock, valued at approximately $598,667.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.
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Scripps Networks Interactive Profile
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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