Insider Selling: The E.W. Scripps Company (NASDAQ:SSP) Major Shareholder Sells 43,000 Shares of Stock

The E.W. Scripps Company (NASDAQ:SSPGet Rating) major shareholder William H. Scripps sold 43,000 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $15.48, for a total value of $665,640.00. Following the completion of the transaction, the insider now owns 76,940 shares of the company’s stock, valued at $1,191,031.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of SSP stock traded up $0.06 on Monday, reaching $15.52. 224,900 shares of the stock were exchanged, compared to its average volume of 281,264. The stock has a market cap of $1.28 billion, a P/E ratio of 16.51 and a beta of 1.74. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $17.21 and a two-hundred day moving average of $19.40. The E.W. Scripps Company has a 1-year low of $14.22 and a 1-year high of $23.61.

E.W. Scripps (NASDAQ:SSPGet Rating) last released its quarterly earnings data on Friday, May 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). E.W. Scripps had a return on equity of 9.89% and a net margin of 6.04%. The firm had revenue of $566.00 million for the quarter, compared to analyst estimates of $560.69 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts predict that The E.W. Scripps Company will post 1.8 EPS for the current fiscal year.

SSP has been the subject of a number of research analyst reports. Huber Research downgraded E.W. Scripps from an “overweight” rating to an “underweight” rating in a report on Friday, May 6th. Zacks Investment Research downgraded E.W. Scripps from a “hold” rating to a “strong sell” rating in a report on Friday, May 13th.

A number of institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its position in E.W. Scripps by 1.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 36,381 shares of the company’s stock worth $704,000 after purchasing an additional 583 shares during the period. Natixis Advisors L.P. boosted its position in E.W. Scripps by 2.7% in the 4th quarter. Natixis Advisors L.P. now owns 22,568 shares of the company’s stock valued at $437,000 after buying an additional 587 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in E.W. Scripps by 2.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 23,128 shares of the company’s stock valued at $481,000 after buying an additional 648 shares during the last quarter. Russell Investments Group Ltd. boosted its position in E.W. Scripps by 4.2% in the 1st quarter. Russell Investments Group Ltd. now owns 18,874 shares of the company’s stock valued at $392,000 after buying an additional 764 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in E.W. Scripps by 8.5% in the 1st quarter. Teacher Retirement System of Texas now owns 11,047 shares of the company’s stock valued at $230,000 after buying an additional 862 shares during the last quarter. 66.93% of the stock is owned by hedge funds and other institutional investors.

About E.W. Scripps (Get Rating)

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. The company operates through Local Media, Scripps Network, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

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