Central Pacific Bank Trust Division Buys Shares of 52,000 The E.W. Scripps Company (NASDAQ:SSP)

Central Pacific Bank Trust Division bought a new stake in shares of The E.W. Scripps Company (NASDAQ:SSP) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 52,000 shares of the company’s stock, valued at approximately $193,000. Central Pacific Bank Trust Division owned approximately 0.06% of E.W. Scripps at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in shares of E.W. Scripps by 1,394.8% during the fourth quarter. Quadrant Capital Group LLC now owns 4,350 shares of the company’s stock worth $35,000 after buying an additional 4,059 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of E.W. Scripps by 93.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,210 shares of the company’s stock worth $42,000 after buying an additional 2,517 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in shares of E.W. Scripps during the fourth quarter worth about $82,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of E.W. Scripps during the first quarter worth about $40,000. Finally, RPO LLC purchased a new stake in shares of E.W. Scripps during the fourth quarter worth about $86,000. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SSP. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Wells Fargo & Company decreased their target price on shares of E.W. Scripps from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. Finally, Benchmark reissued a “buy” rating and issued a $14.00 target price on shares of E.W. Scripps in a research report on Monday, May 13th.

E.W. Scripps Trading Up 1.1 %

Shares of SSP traded up $0.03 during mid-day trading on Wednesday, hitting $2.79. The company had a trading volume of 22,846 shares, compared to its average volume of 1,001,055. The business’s 50-day simple moving average is $2.95 and its 200-day simple moving average is $4.61. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.43 and a quick ratio of 1.43. The E.W. Scripps Company has a 1-year low of $1.96 and a 1-year high of $11.02.

E.W. Scripps (NASDAQ:SSP) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The business had revenue of $561.46 million for the quarter, compared to analyst estimates of $571.01 million. E.W. Scripps had a negative net margin of 39.87% and a positive return on equity of 3.17%. On average, research analysts predict that The E.W. Scripps Company will post 0.75 earnings per share for the current year.

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.