E.W. Scripps (NASDAQ:SSP) Trading Up 4.1%

The E.W. Scripps Company (NASDAQ:SSP)’s share price was up 4.1% during mid-day trading on Thursday . The company traded as high as $21.10 and last traded at $21.10. Approximately 3,145 shares traded hands during trading, a decline of 99% from the average daily volume of 257,990 shares. The stock had previously closed at $20.26.

Separately, Zacks Investment Research raised shares of E.W. Scripps from a “strong sell” rating to a “hold” rating in a research note on Wednesday.

The company has a market cap of $1.78 billion, a PE ratio of 6.67 and a beta of 1.90. The stock’s 50 day moving average is $19.84 and its 200-day moving average is $19.04. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 2.14.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Friday, November 5th. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.11. E.W. Scripps had a net margin of 13.97% and a return on equity of 16.51%. The business had revenue of $555.24 million for the quarter, compared to the consensus estimate of $546.80 million.

In other news, SVP Douglas F. Lyons sold 9,458 shares of the stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $20.92, for a total value of $197,861.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Daniel Perschke sold 5,514 shares of the stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $20.71, for a total transaction of $114,194.94. The disclosure for this sale can be found here. Corporate insiders own 3.43% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Mutual of America Capital Management LLC increased its stake in E.W. Scripps by 7.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 8,201 shares of the company’s stock worth $167,000 after buying an additional 556 shares during the period. Exchange Traded Concepts LLC increased its stake in E.W. Scripps by 1.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 36,381 shares of the company’s stock worth $704,000 after buying an additional 583 shares during the period. Advisor Group Holdings Inc. increased its stake in E.W. Scripps by 25.8% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,965 shares of the company’s stock worth $60,000 after buying an additional 608 shares during the period. FMR LLC grew its holdings in E.W. Scripps by 97.3% during the 2nd quarter. FMR LLC now owns 1,326 shares of the company’s stock worth $27,000 after acquiring an additional 654 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in E.W. Scripps by 5.4% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 20,486 shares of the company’s stock worth $370,000 after acquiring an additional 1,052 shares in the last quarter. 63.89% of the stock is currently owned by institutional investors.

About E.W. Scripps (NASDAQ:SSP)

The E.W. Scripps Co engages in the television and newspaper publishing. It operates through the following business segments: Local Media, National Media, and Other. The Local Media segment comprises local broadcast television stations and their related digital operations. The National Media segment consists of national media businesses including over-the-air broadcast networks, Katz, podcast business, Midroll, next generation national news network, Newsy, and other national brands.

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