Los Angeles Capital Management LLC Purchases Shares of 125,381 The E.W. Scripps Company (NASDAQ:SSP)

Los Angeles Capital Management LLC acquired a new position in The E.W. Scripps Company (NASDAQ:SSP) during the second quarter, HoldingsChannel reports. The institutional investor acquired 125,381 shares of the company’s stock, valued at approximately $394,000.

Several other hedge funds have also recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its position in E.W. Scripps by 1,619.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock valued at $6,918,000 after acquiring an additional 2,075,027 shares in the last quarter. Cove Street Capital LLC boosted its position in shares of E.W. Scripps by 34.2% during the first quarter. Cove Street Capital LLC now owns 3,703,082 shares of the company’s stock valued at $14,553,000 after purchasing an additional 944,328 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in E.W. Scripps by 21.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,203,306 shares of the company’s stock worth $9,614,000 after purchasing an additional 210,673 shares during the period. Ariston Services Group bought a new position in E.W. Scripps in the fourth quarter worth $1,500,000. Finally, Wittenberg Investment Management Inc. lifted its position in E.W. Scripps by 113.6% during the first quarter. Wittenberg Investment Management Inc. now owns 141,007 shares of the company’s stock valued at $554,000 after buying an additional 75,007 shares during the period. 67.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SSP. Benchmark reduced their target price on shares of E.W. Scripps from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. StockNews.com downgraded shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th.

E.W. Scripps Trading Up 12.3 %

E.W. Scripps stock opened at $2.01 on Friday. The E.W. Scripps Company has a 12 month low of $1.68 and a 12 month high of $9.35. The company has a market capitalization of $173.10 million, a price-to-earnings ratio of -0.17 and a beta of 1.73. The business’s fifty day simple moving average is $2.65 and its two-hundred day simple moving average is $3.10. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79.

E.W. Scripps (NASDAQ:SSP) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The firm had revenue of $573.63 million for the quarter, compared to analysts’ expectations of $586.65 million. E.W. Scripps had a negative net margin of 11.06% and a positive return on equity of 2.94%. During the same period last year, the company posted ($0.09) earnings per share. As a group, equities analysts predict that The E.W. Scripps Company will post 0.75 earnings per share for the current fiscal 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.