The E.W. Scripps Company (NASDAQ:SSP) Holdings Trimmed by Cove Street Capital LLC

Cove Street Capital LLC reduced its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 53.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,264,424 shares of the company’s stock after selling 1,448,936 shares during the period. E.W. Scripps accounts for approximately 3.3% of Cove Street Capital LLC’s holdings, making the stock its 9th largest position. Cove Street Capital LLC’s holdings in E.W. Scripps were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its position in E.W. Scripps by 1,643.5% in the 3rd quarter. Barclays PLC now owns 418,588 shares of the company’s stock valued at $941,000 after buying an additional 394,580 shares during the period. Foster & Motley Inc. bought a new stake in shares of E.W. Scripps during the fourth quarter valued at approximately $75,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of E.W. Scripps in the fourth quarter valued at approximately $320,000. BNP Paribas Financial Markets grew its stake in E.W. Scripps by 16.7% in the third quarter. BNP Paribas Financial Markets now owns 52,257 shares of the company’s stock worth $117,000 after purchasing an additional 7,460 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in E.W. Scripps by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,442,144 shares of the company’s stock worth $3,238,000 after purchasing an additional 51,289 shares during the period. 67.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Benchmark upped their target price on E.W. Scripps from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, March 13th.

E.W. Scripps Trading Down 4.8 %

NASDAQ SSP opened at $3.14 on Friday. The E.W. Scripps Company has a one year low of $1.36 and a one year high of $4.65. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $272.24 million, a price-to-earnings ratio of -1.01 and a beta of 1.54. The company’s 50-day simple moving average is $2.13 and its two-hundred day simple moving average is $2.21.

About E.W. Scripps

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.