Federated Hermes Inc. Sells 4,553 Shares of E.W. Scripps Company (The) (NASDAQ:SSP)

Federated Hermes Inc. lowered its holdings in E.W. Scripps Company (The) (NASDAQ:SSP) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 463,043 shares of the company’s stock after selling 4,553 shares during the quarter. Federated Hermes Inc. owned 0.53% of E.W. Scripps worth $1,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSP. Jefferies Financial Group Inc. acquired a new stake in E.W. Scripps during the fourth quarter valued at approximately $291,000. Wealth Enhancement Advisory Services LLC bought a new stake in E.W. Scripps in the fourth quarter valued at $37,000. Millennium Management LLC grew its position in E.W. Scripps by 7.7% in the fourth quarter. Millennium Management LLC now owns 1,724,192 shares of the company’s stock valued at $3,810,000 after acquiring an additional 123,663 shares during the period. Two Sigma Advisers LP raised its stake in E.W. Scripps by 35.3% during the fourth quarter. Two Sigma Advisers LP now owns 471,600 shares of the company’s stock worth $1,042,000 after acquiring an additional 123,100 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of E.W. Scripps by 112.5% in the 4th quarter. Marshall Wace LLP now owns 1,055,343 shares of the company’s stock valued at $2,332,000 after purchasing an additional 558,818 shares in the last quarter. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Stock Performance

E.W. Scripps stock opened at $3.14 on Thursday. E.W. Scripps Company has a 12-month low of $1.36 and a 12-month high of $4.17. The stock has a 50-day simple moving average of $3.02 and a 200 day simple moving average of $2.49. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $275.41 million, a price-to-earnings ratio of 3.41 and a beta of 1.01.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The company had revenue of $524.39 million for the quarter, compared to analyst estimates of $520.04 million. E.W. Scripps had a net margin of 5.71% and a return on equity of 17.81%. On average, research analysts anticipate that E.W. Scripps Company will post 1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SSP. Wall Street Zen raised shares of E.W. Scripps from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Wells Fargo & Company boosted their target price on E.W. Scripps from $2.80 to $4.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th.

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.