Insider Buying: E. W. Scripps (SSP) Major Shareholder Acquires 29,264 Shares of Stock

E. W. Scripps (NYSE:SSP) major shareholder Eaton M. Scripps purchased 29,264 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were acquired at an average price of $17.30 per share, for a total transaction of $506,267.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Eaton M. Scripps also recently made the following trade(s):

  • On Friday, October 26th, Eaton M. Scripps purchased 27,976 shares of E. W. Scripps stock. The shares were acquired at an average price of $16.18 per share, for a total transaction of $452,651.68.

Shares of SSP traded down $0.12 during mid-day trading on Friday, hitting $17.19. The stock had a trading volume of 407,988 shares, compared to its average volume of 432,123. The firm has a market cap of $1.02 billion, a PE ratio of -44.08, 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 52 week low of $10.69 and a 52 week high of $18.20.

E. W. Scripps (NYSE:SSP) last issued its earnings results on Friday, August 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The firm had revenue of $283.40 million for the quarter, compared to analyst estimates 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 business’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Sell-side analysts anticipate that E. W. Scripps will post 0.63 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SSP. Lenox Wealth Management Inc. raised its stake in shares of E. W. Scripps by 23.3% during the 3rd quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock valued at $1,381,000 after purchasing an additional 15,788 shares during the period. Bank of New York Mellon Corp raised its stake in shares of E. W. Scripps by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock valued at $33,678,000 after purchasing an additional 79,568 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of 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 valued at $1,422,000 after purchasing an additional 17,580 shares during the period. California Public Employees Retirement System raised its stake in shares of E. W. Scripps by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 118,693 shares of the company’s stock valued at $1,589,000 after purchasing an additional 6,476 shares during the period. Finally, Litespeed Management L.L.C. raised its stake in shares of E. W. Scripps by 3.6% during the 2nd quarter. Litespeed Management L.L.C. now owns 433,529 shares of the company’s stock valued at $5,805,000 after purchasing an additional 15,000 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.

A number of analysts recently commented on SSP shares. Noble Financial reiterated a “buy” rating and set a $19.00 price target on shares of E. W. Scripps in a report on Wednesday, August 1st. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of E. W. Scripps in a report on Thursday, October 18th. Stephens set a $15.00 price target on E. W. Scripps and gave the stock a “hold” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research lowered E. W. Scripps from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $18.40.

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.

See Also: Treasury Bonds

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

Receive News & Ratings for E. W. Scripps Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E. W. Scripps and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply