Assenagon Asset Management S.A. Trims Stake in The E.W. Scripps Company (NASDAQ:SSP)

Assenagon Asset Management S.A. cut its holdings in shares of The E.W. Scripps Company (NASDAQ:SSPFree Report) by 63.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 623,899 shares of the company’s stock after selling 1,073,322 shares during the quarter. Assenagon Asset Management S.A. owned about 0.72% of E.W. Scripps worth $1,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Diversified Trust Co boosted its stake in shares of E.W. Scripps by 36.6% in the 4th quarter. Diversified Trust Co now owns 25,644 shares of the company’s stock valued at $57,000 after buying an additional 6,868 shares during the period. BNP Paribas Financial Markets raised its holdings in E.W. Scripps by 16.7% in the third quarter. BNP Paribas Financial Markets now owns 52,257 shares of the company’s stock valued at $117,000 after acquiring an additional 7,460 shares in the last quarter. Victory Capital Management Inc. lifted its stake in E.W. Scripps by 5.1% in the third quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock worth $460,000 after acquiring an additional 9,900 shares during the last quarter. Sei Investments Co. acquired a new position in E.W. Scripps during the 2nd quarter worth approximately $38,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of E.W. Scripps in the 2nd quarter valued at approximately $39,000. 67.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Benchmark decreased their price objective on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. StockNews.com raised E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

View Our Latest Report on E.W. Scripps

E.W. Scripps Price Performance

Shares of SSP opened at $2.34 on Friday. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The E.W. Scripps Company has a 1-year low of $1.68 and a 1-year high of $9.35. The stock has a market cap of $202.08 million, a PE ratio of -0.75 and a beta of 1.48. The firm has a fifty day moving average price of $2.14 and a 200 day moving average price of $2.40.

E.W. Scripps (NASDAQ:SSPGet Free Report) last posted its earnings results 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 firm posted ($0.15) earnings per share. As a group, sell-side analysts anticipate that The E.W. Scripps Company will post 1.07 EPS for the current year.

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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