Geode Capital Management LLC Has $3.25 Million Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Geode Capital Management LLC increased its position in shares of The E.W. Scripps Company (NASDAQ:SSP) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,468,827 shares of the company’s stock after purchasing an additional 26,683 shares during the period. Geode Capital Management LLC owned about 1.70% of E.W. Scripps worth $3,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC increased its position in shares of E.W. Scripps by 1,643.5% during the third quarter. Barclays PLC now owns 418,588 shares of the company’s stock valued at $941,000 after purchasing an additional 394,580 shares during the period. Foster & Motley Inc. bought a new stake in E.W. Scripps in the fourth quarter valued at $75,000. MassMutual Private Wealth & Trust FSB bought a new stake in E.W. Scripps in the fourth quarter valued at $320,000. Bank of New York Mellon Corp grew its position in E.W. Scripps by 55.1% in the fourth quarter. Bank of New York Mellon Corp now owns 299,016 shares of the company’s stock valued at $661,000 after acquiring an additional 106,220 shares during the period. Finally, JPMorgan Chase & Co. grew its position in E.W. Scripps by 245.1% in the third quarter. JPMorgan Chase & Co. now owns 94,171 shares of the company’s stock valued at $211,000 after acquiring an additional 66,885 shares during the period. 67.81% of the stock is currently owned by institutional investors.

E.W. Scripps Price Performance

Shares of SSP stock opened at $2.14 on Tuesday. The stock’s fifty day moving average is $2.28 and its 200-day moving average is $2.24. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $185.54 million, a PE ratio of -0.69 and a beta of 0.92. The E.W. Scripps Company has a 52 week low of $1.36 and a 52 week high of $4.65.

Analysts Set New Price Targets

Separately, Benchmark upped their price target on E.W. Scripps from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, March 13th.

About E.W. Scripps

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.