Victory Capital Management Inc. Sells 1,100,079 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Victory Capital Management Inc. lowered its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 15.9% in the 4th quarter, HoldingsChannel reports. The firm owned 5,802,588 shares of the company’s stock after selling 1,100,079 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of E.W. Scripps worth $46,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of E.W. Scripps by 93.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,210 shares of the company’s stock worth $42,000 after acquiring an additional 2,517 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of E.W. Scripps during the 3rd quarter worth approximately $55,000. Jump Financial LLC bought a new position in shares of E.W. Scripps during the 3rd quarter worth approximately $87,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of E.W. Scripps by 22.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,321 shares of the company’s stock worth $122,000 after acquiring an additional 2,766 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of E.W. Scripps by 112.6% during the 3rd quarter. Mackenzie Financial Corp now owns 25,687 shares of the company’s stock worth $129,000 after acquiring an additional 13,607 shares in the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

E.W. Scripps Trading Up 1.2 %

Shares of E.W. Scripps stock opened at $4.27 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 3.91. The E.W. Scripps Company has a 12-month low of $2.93 and a 12-month high of $11.02. The firm has a market capitalization of $362.18 million, a price-to-earnings ratio of -0.36 and a beta of 1.90. The firm’s 50 day simple moving average is $3.81 and its two-hundred day simple moving average is $5.98.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). E.W. Scripps had a negative net margin of 41.33% and a positive return on equity of 1.81%. The company had revenue of $615.77 million for the quarter, compared to analyst estimates of $593.00 million. Analysts predict that The E.W. Scripps Company will post 0.74 EPS for the current year.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their price objective on shares of E.W. Scripps from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th.

E.W. Scripps Company Profile

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.