Foster & Motley Inc. Takes Position in The E.W. Scripps Company (NASDAQ:SSP)

Foster & Motley Inc. bought a new position in shares of The E.W. Scripps Company (NASDAQ:SSP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 34,000 shares of the company’s stock, valued at approximately $75,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SSP. Minerva Advisors LLC grew its position in shares of E.W. Scripps by 48.5% in the third quarter. Minerva Advisors LLC now owns 1,192,441 shares of the company’s stock valued at $2,671,000 after purchasing an additional 389,481 shares during the last quarter. GSA Capital Partners LLP grew its holdings in E.W. Scripps by 1,335.9% in the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock valued at $1,375,000 after buying an additional 569,720 shares in the last quarter. Barclays PLC increased its position in E.W. Scripps by 1,643.5% during the 3rd quarter. Barclays PLC now owns 418,588 shares of the company’s stock worth $941,000 after buying an additional 394,580 shares during the period. Wittenberg Investment Management Inc. lifted its holdings in shares of E.W. Scripps by 52.5% during the third quarter. Wittenberg Investment Management Inc. now owns 1,646,239 shares of the company’s stock worth $3,696,000 after buying an additional 566,717 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of E.W. Scripps in the second quarter valued at about $1,833,000. Institutional investors and hedge funds own 67.81% of the company’s stock.

E.W. Scripps Stock Down 5.1 %

SSP stock opened at $1.88 on Friday. The E.W. Scripps Company has a 52 week low of $1.68 and a 52 week high of $8.39. The business has a 50-day simple moving average of $2.16 and a 200 day simple moving average of $2.36. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41. The company has a market cap of $162.36 million, a PE ratio of -0.61 and a beta of 1.48.

E.W. Scripps (NASDAQ:SSP) last issued its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.19). The firm had revenue of $646.30 million during the quarter, compared to analyst estimates of $634.01 million. E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Sell-side analysts anticipate that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SSP shares. StockNews.com raised shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark dropped their price target on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

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.