Lenox Wealth Management Inc. increased its stake in shares of E. W. Scripps (NYSE:SSP) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,924 shares of the company’s stock after buying an additional 4,000 shares during the quarter. Lenox Wealth Management Inc.’s holdings in E. W. Scripps were worth $755,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Capital Fund Management S.A. purchased a new position in E. W. Scripps in the second quarter worth $177,000. Nisa Investment Advisors LLC boosted its position in E. W. Scripps by 7.1% in the third quarter. Nisa Investment Advisors LLC now owns 13,500 shares of the company’s stock worth $179,000 after purchasing an additional 900 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in E. W. Scripps in the second quarter worth $274,000. Municipal Employees Retirement System of Michigan boosted its position in E. W. Scripps by 25.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 20,830 shares of the company’s stock worth $319,000 after purchasing an additional 4,220 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in E. W. Scripps in the second quarter worth $472,000. Institutional investors and hedge funds own 77.70% of the company’s stock.
In other news, major shareholder Corina S. Granado purchased 38,117 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $11.91 per share, with a total value of $453,973.47. Following the transaction, the insider now directly owns 448,569 shares of the company’s stock, valued at $5,342,456.79. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 4.16% of the stock is owned by corporate insiders.
Shares of NYSE SSP traded up $1.06 during trading on Friday, reaching $15.28. 833,463 shares of the stock traded hands, compared to its average volume of 404,772. E. W. Scripps has a 52-week low of $11.36 and a 52-week high of $23.41. The company has a 50-day moving average of $13.35 and a 200-day moving average of $15.00.
E. W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $337.50 million for the quarter, compared to analysts’ expectations of $337.35 million. During the same period in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 19.1% on a year-over-year basis.
SSP has been the topic of several research analyst reports. Zacks Investment Research raised E. W. Scripps from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Wells Fargo & Co started coverage on E. W. Scripps in a research report on Monday, September 23rd. They set an “outperform” rating and a $17.00 price target on the stock. Finally, Guggenheim reaffirmed a “neutral” rating and set a $14.00 price target (down previously from $22.00) on shares of E. W. Scripps in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.00.
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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