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.
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.
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