PNC Financial Services Group Inc. Acquires 7,496 Shares of The E.W. Scripps Company (NASDAQ:SSP)

PNC Financial Services Group Inc. raised its holdings in The E.W. Scripps Company (NASDAQ:SSPFree Report) by 229.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,761 shares of the company’s stock after acquiring an additional 7,496 shares during the quarter. PNC Financial Services Group Inc.’s holdings in E.W. Scripps were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ariston Services Group bought a new position in E.W. Scripps in the fourth quarter valued at approximately $1,500,000. SageView Advisory Group LLC bought a new position in shares of E.W. Scripps during the fourth quarter worth $82,000. Penn Capital Management Company LLC boosted its position in shares of E.W. Scripps by 4.2% during the fourth quarter. Penn Capital Management Company LLC now owns 1,214,951 shares of the company’s stock worth $9,721,000 after purchasing an additional 49,313 shares in the last quarter. Wittenberg Investment Management Inc. boosted its position in shares of E.W. Scripps by 340.0% during the fourth quarter. Wittenberg Investment Management Inc. now owns 66,000 shares of the company’s stock worth $527,000 after purchasing an additional 51,000 shares in the last quarter. Finally, Sprinkle Financial Consultants LLC bought a new position in shares of E.W. Scripps during the fourth quarter worth $407,000. 67.81% of the stock is owned by institutional investors.

E.W. Scripps Trading Down 2.6 %

Shares of NASDAQ:SSP opened at $2.96 on Friday. The E.W. Scripps Company has a 12 month low of $1.96 and a 12 month high of $11.02. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 3.82. The company’s fifty day simple moving average is $2.99 and its 200 day simple moving average is $4.70. The firm has a market cap of $252.75 million, a price-to-earnings ratio of -0.25 and a beta of 1.79.

E.W. Scripps (NASDAQ:SSPGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). E.W. Scripps had a positive return on equity of 3.17% and a negative net margin of 39.87%. The company had revenue of $561.46 million for the quarter, compared to analyst estimates of $571.01 million. As a group, research analysts forecast that The E.W. Scripps Company will post 0.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SSP. Wells Fargo & Company reduced their price target on shares of E.W. Scripps from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. StockNews.com raised shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Benchmark reissued a “buy” rating and set a $14.00 price target on shares of E.W. Scripps in a research report on Monday, May 13th.

View Our Latest Research Report on SSP

E.W. Scripps Profile

(Free Report)

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.

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Institutional Ownership by Quarter for E.W. Scripps (NASDAQ:SSP)

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