Acadian Asset Management LLC Has $599,000 Stake in The E.W. Scripps Company (NASDAQ:SSP)

Acadian Asset Management LLC lifted its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 532,086.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 191,587 shares of the company’s stock after acquiring an additional 191,551 shares during the period. Acadian Asset Management LLC owned 0.22% of E.W. Scripps worth $599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SSP. Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 210,673 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of E.W. Scripps by 1,394.8% during the fourth quarter. Quadrant Capital Group LLC now owns 4,350 shares of the company’s stock worth $35,000 after purchasing an additional 4,059 shares during the period. RPO LLC bought a new position in shares of E.W. Scripps in the 4th quarter worth $86,000. Olympiad Research LP acquired a new stake in E.W. Scripps in the 4th quarter valued at $143,000. Finally, Sprinkle Financial Consultants LLC bought a new stake in E.W. Scripps during the 4th quarter valued at $407,000. 67.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

E.W. Scripps Trading Up 2.6 %

Shares of E.W. Scripps stock opened at $1.95 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79. The stock has a fifty day simple moving average of $2.61 and a 200 day simple moving average of $3.06. 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 $166.51 million, a P/E ratio of -0.17 and a beta of 1.73.

E.W. Scripps (NASDAQ:SSP) last posted its earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.17). E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. The firm had revenue of $573.63 million during the quarter, compared to the consensus estimate of $586.65 million. During the same quarter in the previous year, the company earned ($0.09) EPS. On average, sell-side analysts anticipate 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.