Point72 Asia Singapore Pte. Ltd. Buys Shares of 20,943 The E.W. Scripps Company (NASDAQ:SSP)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of The E.W. Scripps Company (NASDAQ:SSP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 20,943 shares of the company’s stock, valued at approximately $66,000.

Several other large investors also recently added to or reduced their stakes in SSP. Sei Investments Co. acquired a new stake in E.W. Scripps during the 2nd quarter valued at $38,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of E.W. Scripps during the 2nd quarter valued at $39,000. CWM LLC grew its holdings in shares of E.W. Scripps by 4,620.6% during the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock valued at $45,000 after acquiring an additional 13,908 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of E.W. Scripps during the 1st quarter valued at $50,000. Finally, Optas LLC purchased a new position in shares of E.W. Scripps during the 2nd quarter valued at $50,000. 67.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

E.W. Scripps Trading Up 23.7 %

Shares of NASDAQ:SSP opened at $2.35 on Monday. The stock has a market capitalization of $200.67 million, a PE ratio of -0.20 and a beta of 1.73. The E.W. Scripps Company has a 1 year low of $1.68 and a 1 year high of $9.35. The firm has a fifty day moving average price of $2.40 and a 200 day moving average price of $2.93. 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 issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The business had revenue of $573.63 million during the quarter, compared to the consensus estimate of $586.65 million. E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Analysts expect that The E.W. Scripps Company will post 0.75 EPS 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.