Los Angeles Capital Management LLC Increases Position in The E.W. Scripps Company (NASDAQ:SSP)

Los Angeles Capital Management LLC boosted its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 33.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,906 shares of the company’s stock after purchasing an additional 41,525 shares during the quarter. Los Angeles Capital Management LLC’s holdings in E.W. Scripps were worth $375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SSP. Sei Investments Co. purchased a new stake in E.W. Scripps in the second quarter worth about $38,000. Vanguard Personalized Indexing Management LLC purchased a new stake in E.W. Scripps in the second quarter worth about $39,000. Diversified Trust Co purchased a new stake in E.W. Scripps in the third quarter worth about $42,000. CWM LLC lifted its stake in shares of E.W. Scripps by 4,620.6% in the second quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after buying an additional 13,908 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of E.W. Scripps in the first quarter worth approximately $50,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SSP shares. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark dropped their target price on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

E.W. Scripps Trading Down 1.7 %

Shares of NASDAQ SSP opened at $1.76 on Monday. The company has a market cap of $151.57 million, a PE ratio of -0.57 and a beta of 1.66. The firm’s 50 day moving average price is $2.33 and its 200-day moving average price is $2.66. The E.W. Scripps Company has a 52-week low of $1.68 and a 52-week high of $9.35. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). The company had revenue of $646.30 million for the quarter, compared to the consensus estimate 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 last year, the company earned ($0.15) EPS. On average, equities research analysts expect that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

E.W. Scripps Profile

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.