Scripps Networks Interactive, Inc (SNI) Stake Decreased by Lenox Wealth Management Inc.
Lenox Wealth Management Inc. cut its stake in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,112 shares of the company’s stock after selling 10,609 shares during the quarter. Scripps Networks Interactive comprises approximately 3.1% of Lenox Wealth Management Inc.’s portfolio, making the stock its 4th biggest position. Lenox Wealth Management Inc. owned approximately 0.08% of Scripps Networks Interactive worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Alliancebernstein L.P. increased its holdings in Scripps Networks Interactive by 1,107.7% in the 2nd quarter. Alliancebernstein L.P. now owns 2,084,212 shares of the company’s stock worth $142,373,000 after buying an additional 1,911,635 shares in the last quarter. Magnetar Financial LLC bought a new stake in Scripps Networks Interactive in the 3rd quarter worth about $149,660,000. Alpine Associates Management Inc. bought a new stake in Scripps Networks Interactive in the 3rd quarter worth about $143,032,000. BlackRock Inc. increased its holdings in Scripps Networks Interactive by 18.3% in the 2nd quarter. BlackRock Inc. now owns 8,455,399 shares of the company’s stock worth $577,591,000 after buying an additional 1,308,844 shares in the last quarter. Finally, Cheyne Capital Management UK LLP bought a new stake in Scripps Networks Interactive in the 3rd quarter worth about $1,796,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.
Several research firms recently commented on SNI. KeyCorp reiterated a “hold” rating on shares of Scripps Networks Interactive in a report on Friday, August 25th. BidaskClub downgraded Scripps Networks Interactive from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Royal Bank Of Canada raised their target price 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. Morgan Stanley raised their target price on Scripps Networks Interactive from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Scripps Networks Interactive in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $85.62.
Scripps Networks Interactive (NASDAQ:SNI) last released its quarterly earnings data 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. The business had revenue of $825.53 million for the quarter, compared to the consensus estimate of $838.63 million. Scripps Networks Interactive had a return on equity of 27.04% and a net margin of 17.46%. During the same quarter in the previous year, the company posted $1.26 EPS. sell-side analysts expect that Scripps Networks Interactive, Inc will post 5.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, November 29th. Scripps Networks Interactive’s dividend payout ratio is currently 12.85%.
In other news, Director Jeffrey Sagansky sold 1,077 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $79.61, for a total transaction of $85,739.97. Following the transaction, the director now owns 7,520 shares of the company’s stock, valued at approximately $598,667.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.
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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