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

Victory Capital Management Inc. reduced its stake in The E.W. Scripps Company (NASDAQ:SSP) by 95.7% during the second quarter, Holdings Channel.com reports. The firm owned 195,000 shares of the company’s stock after selling 4,344,599 shares during the period. Victory Capital Management Inc.’s holdings in E.W. Scripps were worth $612,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its position in shares of E.W. Scripps by 1,394.8% in the 4th quarter. Quadrant Capital Group LLC now owns 4,350 shares of the company’s stock worth $35,000 after buying an additional 4,059 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of E.W. Scripps in the 4th quarter worth approximately $82,000. RPO LLC bought a new stake in shares of E.W. Scripps in the 4th quarter worth approximately $86,000. PNC Financial Services Group Inc. grew its position in shares of E.W. Scripps by 229.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,761 shares of the company’s stock worth $86,000 after buying an additional 7,496 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of E.W. Scripps in the 1st quarter worth approximately $50,000. 67.81% of the stock is currently owned by institutional investors.

E.W. Scripps Trading Down 8.0 %

NASDAQ SSP opened at $1.85 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.79. The E.W. Scripps Company has a twelve month low of $1.68 and a twelve month high of $9.35. The firm has a market capitalization of $157.97 million, a PE ratio of -0.16 and a beta of 1.73. The stock’s 50 day moving average is $2.55 and its 200 day moving average is $3.02.

E.W. Scripps (NASDAQ:SSP) last released its earnings results on Thursday, August 8th. The company reported ($0.15) 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 company had revenue of $573.63 million during the quarter, compared to the consensus estimate of $586.65 million. During the same period last year, the firm posted ($0.09) earnings per share. Research analysts forecast that The E.W. Scripps Company will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SSP has been the topic of several research reports. StockNews.com lowered E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Benchmark dropped their price target on 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.

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.