E.W. Scripps Company (The) $SSP Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC grew its position in E.W. Scripps Company (The) (NASDAQ:SSP) by 28.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,121 shares of the company’s stock after purchasing an additional 4,730 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in E.W. Scripps were worth $62,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of E.W. Scripps by 111.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,931 shares of the company’s stock valued at $26,000 after purchasing an additional 4,715 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of E.W. Scripps in the 1st quarter valued at $44,000. Kathmere Capital Management LLC acquired a new stake in shares of E.W. Scripps in the 2nd quarter valued at $44,000. MetLife Investment Management LLC acquired a new stake in shares of E.W. Scripps in the 1st quarter valued at $110,000. Finally, Strs Ohio acquired a new stake in shares of E.W. Scripps in the 1st quarter valued at $117,000. 67.81% of the stock is currently owned by institutional investors and hedge funds.

E.W. Scripps Trading Down 1.3%

Shares of E.W. Scripps stock opened at $2.35 on Friday. The company has a market capitalization of $207.58 million, a P/E ratio of 4.90 and a beta of 1.05. The company’s fifty day moving average is $2.71 and its two-hundred day moving average is $2.71. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.27 and a current ratio of 1.27. E.W. Scripps Company has a 1 year low of $1.36 and a 1 year high of $4.17.

E.W. Scripps (NASDAQ:SSP) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $540.08 million during 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%. Analysts forecast that E.W. Scripps Company will post 1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SSP. Weiss Ratings restated a “sell (d)” rating on shares of E.W. Scripps in a report on Saturday. Wells Fargo & Company dropped their target price 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. Finally, Wall Street Zen downgraded shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Sunday, August 31st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.50.

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.