Charles E. Scripps Acquires 5,000 Shares of E. W. Scripps (SSP) Stock

E. W. Scripps (NYSE:SSP) major shareholder Charles E. Scripps acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The shares were acquired at an average cost of $16.08 per share, for a total transaction of $80,400.00. Following the purchase, the insider now directly owns 741,367 shares in the company, valued at approximately $11,921,181.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Charles E. Scripps also recently made the following trade(s):

  • On Monday, October 22nd, Charles E. Scripps acquired 5,000 shares of E. W. Scripps stock. The shares were acquired at an average cost of $17.82 per share, for a total transaction of $89,100.00.

SSP stock opened at $16.82 on Thursday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -43.13, a PEG ratio of 3.19 and a beta of 2.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.89 and a quick ratio of 2.89. E. W. Scripps has a 1 year low of $10.69 and a 1 year high of $18.20.

E. W. Scripps (NYSE:SSP) last released its earnings results on Friday, August 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02. The firm had revenue of $283.40 million during the quarter, compared to analysts’ expectations of $275.68 million. E. W. Scripps had a positive return on equity of 0.89% and a negative net margin of 3.93%. The company’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, sell-side analysts forecast that E. W. Scripps will post 0.63 earnings per share for the current year.

Several analysts recently commented on SSP shares. Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a research note on Friday, October 19th. Zacks Investment Research downgraded E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Benchmark reaffirmed a “buy” rating and set a $20.00 price objective on shares of E. W. Scripps in a research note on Thursday, October 18th. Finally, Stephens set a $15.00 price objective on E. W. Scripps and gave the stock a “hold” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. E. W. Scripps currently has an average rating of “Buy” and an average target price of $18.40.

Hedge funds have recently added to or reduced their stakes in the business. LMR Partners LLP bought a new position in E. W. Scripps during the 2nd quarter worth about $412,000. Price Capital Management Inc. bought a new position in E. W. Scripps during the 2nd quarter worth about $488,000. Lenox Wealth Management Inc. increased its holdings in E. W. Scripps by 23.3% during the 3rd quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock worth $1,381,000 after purchasing an additional 15,788 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in E. W. Scripps by 19.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after purchasing an additional 17,580 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in E. W. Scripps by 7.8% during the 1st quarter. California Public Employees Retirement System now owns 112,217 shares of the company’s stock worth $1,345,000 after purchasing an additional 8,117 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

About E. W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

Read More: Fundamental Analysis – How It Helps Investors

Insider Buying and Selling by Quarter for E. W. Scripps (NYSE:SSP)

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