Goldman Sachs Group Inc. Sells 326,133 Shares of E.W. Scripps Company (The) $SSP

Goldman Sachs Group Inc. lowered its position in shares of E.W. Scripps Company (The) (NASDAQ:SSP) by 19.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,364,209 shares of the company’s stock after selling 326,133 shares during the period. Goldman Sachs Group Inc. owned about 1.56% of E.W. Scripps worth $4,038,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in E.W. Scripps during the first quarter worth about $117,000. Acadian Asset Management LLC lifted its stake in shares of E.W. Scripps by 37.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,157,372 shares of the company’s stock valued at $3,421,000 after acquiring an additional 316,545 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of E.W. Scripps by 8.6% in the 1st quarter. Empowered Funds LLC now owns 316,113 shares of the company’s stock valued at $936,000 after acquiring an additional 25,070 shares during the last quarter. Aristeia Capital L.L.C. bought a new stake in shares of E.W. Scripps in the 1st quarter valued at about $700,000. Finally, MetLife Investment Management LLC bought a new stake in shares of E.W. Scripps in the 1st quarter valued at about $110,000. Institutional investors own 67.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SSP. Wall Street Zen lowered E.W. Scripps from a “hold” rating to a “sell” rating in a research note on Sunday, August 31st. Wells Fargo & Company lowered their target price on E.W. Scripps from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, E.W. Scripps presently has an average rating of “Moderate Buy” and an average price target of $5.50.

E.W. Scripps Stock Performance

Shares of SSP opened at $2.84 on Thursday. The business’s fifty day simple moving average is $3.09 and its two-hundred day simple moving average is $2.70. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.92. E.W. Scripps Company has a 12 month low of $1.36 and a 12 month high of $4.17. The company has a market cap of $250.86 million, a price-to-earnings ratio of 5.92 and a beta of 1.05.

E.W. Scripps (NASDAQ:SSP) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). E.W. Scripps had a net margin of 4.25% and a return on equity of 17.68%. The business had revenue of $540.08 million for the quarter, compared to analysts’ expectations of $544.17 million. Research analysts anticipate that E.W. Scripps Company will post 1.07 earnings per share for the current fiscal 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.