Oppenheimer Asset Management Inc. Decreases Stake in The E.W. Scripps Company (NASDAQ:SSP)

Oppenheimer Asset Management Inc. trimmed its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 12.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 191,924 shares of the company’s stock after selling 28,194 shares during the period. Oppenheimer Asset Management Inc. owned 0.22% of E.W. Scripps worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in E.W. Scripps by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock valued at $460,000 after buying an additional 9,900 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of E.W. Scripps by 1,335.9% during the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock worth $1,375,000 after buying an additional 569,720 shares during the last quarter. Los Angeles Capital Management LLC raised its position in E.W. Scripps by 33.1% in the third quarter. Los Angeles Capital Management LLC now owns 166,906 shares of the company’s stock valued at $375,000 after purchasing an additional 41,525 shares during the period. Diversified Trust Co acquired a new position in shares of E.W. Scripps in the 3rd quarter valued at $42,000. Finally, Point72 DIFC Ltd purchased a new position in shares of E.W. Scripps during the 2nd quarter worth $56,000. 67.81% of the stock is currently owned by institutional investors and hedge funds.

E.W. Scripps Trading Up 2.9 %

Shares of SSP stock opened at $1.78 on Wednesday. The E.W. Scripps Company has a fifty-two week low of $1.68 and a fifty-two week high of $9.35. The company has a 50 day moving average price of $2.33 and a 200 day moving average price of $2.63. The stock has a market capitalization of $153.73 million, a P/E ratio of -0.57 and a beta of 1.66. 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 posted 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 analysts’ expectations of $634.01 million. E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. During the same period in the prior year, the company posted ($0.15) EPS. Equities research analysts predict that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

Analyst Ratings Changes

SSP has been the topic of a number of recent analyst reports. 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 target price on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a 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.