Wolverine Asset Management LLC Grows Stake in E.W. Scripps Company (The) $SSP

Wolverine Asset Management LLC raised its holdings in shares of E.W. Scripps Company (The) (NASDAQ:SSP) by 135.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 263,293 shares of the company’s stock after purchasing an additional 151,310 shares during the period. Wolverine Asset Management LLC owned 0.30% of E.W. Scripps worth $648,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Kathmere Capital Management LLC grew its stake in E.W. Scripps by 86.0% during the 3rd quarter. Kathmere Capital Management LLC now owns 27,907 shares of the company’s stock worth $69,000 after buying an additional 12,904 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in E.W. Scripps by 98.9% in the second quarter. Osaic Holdings Inc. now owns 25,818 shares of the company’s stock worth $76,000 after acquiring an additional 12,835 shares in the last quarter. State of Wyoming purchased a new stake in shares of E.W. Scripps during the second quarter worth about $156,000. Oxford Asset Management LLP acquired a new position in shares of E.W. Scripps during the second quarter valued at about $46,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of E.W. Scripps by 17.4% during the second quarter. BNP Paribas Financial Markets now owns 68,209 shares of the company’s stock valued at $201,000 after acquiring an additional 10,110 shares in the last quarter. Institutional investors and hedge funds own 67.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of E.W. Scripps in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.50.

E.W. Scripps Stock Down 2.4%

SSP stock opened at $3.60 on Friday. E.W. Scripps Company has a one year low of $1.36 and a one year high of $4.98. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.61 and a current ratio of 1.61. The firm’s fifty day moving average is $4.07 and its 200 day moving average is $3.28. The firm has a market cap of $319.68 million, a PE ratio of -8.18 and a beta of 0.62.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). E.W. Scripps had a return on equity of 9.82% and a net margin of 0.99%.The firm had revenue of $525.85 million during the quarter, compared to analyst estimates of $523.58 million. On average, research analysts forecast that E.W. Scripps Company will post 1.07 EPS for the current year.

E.W. Scripps Company Profile

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.