Acadian Asset Management LLC Buys 74,435 Shares of E.W. Scripps Company (The) $SSP

Acadian Asset Management LLC grew its position in shares of E.W. Scripps Company (The) (NASDAQ:SSP) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,231,807 shares of the company’s stock after purchasing an additional 74,435 shares during the period. Acadian Asset Management LLC owned approximately 1.40% of E.W. Scripps worth $3,618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSP. May Hill Capital LLC purchased a new position in E.W. Scripps during the 2nd quarter valued at approximately $48,000. Chicago Partners Investment Group LLC boosted its position in shares of E.W. Scripps by 28.9% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 21,121 shares of the company’s stock valued at $62,000 after acquiring an additional 4,730 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of E.W. Scripps in the second quarter valued at $418,000. Kathmere Capital Management LLC purchased a new position in shares of E.W. Scripps in the second quarter valued at $44,000. Finally, Strs Ohio bought a new stake in E.W. Scripps in the first quarter worth $117,000. 67.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SSP has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of E.W. Scripps from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of E.W. Scripps in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.50.

E.W. Scripps Trading Down 2.2%

SSP opened at $3.06 on Friday. 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 stock’s 50 day moving average price is $2.57 and its 200-day moving average price is $2.75. E.W. Scripps Company has a one year low of $1.36 and a one year high of $4.17. The stock has a market cap of $270.30 million, a price-to-earnings ratio of 6.38 and a beta of 0.99.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). E.W. Scripps had a net margin of 4.25% and a return on equity of 17.68%. The business had revenue of $525.85 million for the quarter, compared to analysts’ expectations of $523.58 million. On average, equities analysts forecast that E.W. Scripps Company will post 1.07 EPS for the current year.

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.