Northwestern Mutual Wealth Management Co. Increases Position in E.W. Scripps Company (The) $SSP

Northwestern Mutual Wealth Management Co. increased its stake in E.W. Scripps Company (The) (NASDAQ:SSP) by 111.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,931 shares of the company’s stock after acquiring an additional 4,715 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in E.W. Scripps were worth $26,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new position in E.W. Scripps in the fourth quarter worth $291,000. Minerva Advisors LLC grew its position in E.W. Scripps by 7.9% during the first quarter. Minerva Advisors LLC now owns 1,259,842 shares of the company’s stock valued at $3,729,000 after acquiring an additional 92,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in E.W. Scripps during the fourth quarter valued at approximately $37,000. Charles Schwab Investment Management Inc. grew its position in E.W. Scripps by 155.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,926,461 shares of the company’s stock valued at $5,702,000 after acquiring an additional 1,171,102 shares during the last quarter. Finally, Millennium Management LLC grew its position in E.W. Scripps by 7.7% during 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 last quarter. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen cut shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Sunday, August 31st. Wells Fargo & Company reduced their price target on shares of E.W. Scripps from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

E.W. Scripps Stock Performance

NASDAQ:SSP opened at $2.95 on Monday. The firm has a market cap of $260.57 million, a PE ratio of 6.15 and a beta of 1.05. E.W. Scripps Company has a fifty-two week low of $1.36 and a fifty-two week high of $4.17. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.27 and a current ratio of 1.27. The business has a 50 day moving average price of $3.17 and a 200-day moving average price of $2.65.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The company had revenue of $540.08 million for the quarter, compared to analysts’ expectations of $544.17 million. E.W. Scripps had a net margin of 4.25% and a return on equity of 17.68%. Equities research analysts predict that E.W. Scripps Company will post 1.07 earnings per share for the current year.

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.