Charles Schwab Investment Management Inc. Decreases Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of The E.W. Scripps Company (NASDAQ:SSP) by 17.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 981,949 shares of the company’s stock after selling 213,245 shares during the period. Charles Schwab Investment Management Inc. owned 1.14% of E.W. Scripps worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in E.W. Scripps by 5.1% during the 3rd quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock valued at $460,000 after acquiring an additional 9,900 shares during the last quarter. Sei Investments Co. purchased a new stake in E.W. Scripps during the 2nd quarter valued at approximately $38,000. Vanguard Personalized Indexing Management LLC purchased a new stake in E.W. Scripps during the 2nd quarter valued at approximately $39,000. American Century Companies Inc. raised its stake in E.W. Scripps by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 89,180 shares of the company’s stock valued at $280,000 after acquiring an additional 13,156 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in E.W. Scripps by 423.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,741 shares of the company’s stock valued at $53,000 after acquiring an additional 13,541 shares during the last quarter. 67.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on SSP shares. Benchmark reduced their price objective on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. StockNews.com raised E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

E.W. Scripps Stock Performance

Shares of SSP stock opened at $2.05 on Monday. The company has a market cap of $177.04 million, a price-to-earnings ratio of -0.66 and a beta of 1.52. The stock has a 50 day simple moving average of $2.36 and a 200-day simple moving average of $2.47. The E.W. Scripps Company has a 12-month low of $1.68 and a 12-month high of $9.35. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The firm had revenue of $646.30 million during the quarter, compared to analysts’ expectations of $634.01 million. During the same period in the previous year, the business earned ($0.15) earnings per share. On average, equities analysts forecast that The E.W. Scripps Company will post 1.07 EPS for the current year.

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.