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

Oppenheimer Asset Management Inc. lessened its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 12.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,924 shares of the company’s stock after selling 28,194 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in E.W. Scripps were worth $431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of E.W. Scripps by 1,619.1% in 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 during the last quarter. GSA Capital Partners LLP boosted its holdings in E.W. Scripps by 1,335.9% in the third quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock valued at $1,375,000 after purchasing an additional 569,720 shares in the last quarter. AQR Capital Management LLC increased its stake in E.W. Scripps by 1,154.7% in the second quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock valued at $7,550,000 after purchasing an additional 2,212,959 shares during the last quarter. Marshall Wace LLP acquired a new stake in E.W. Scripps during the second quarter worth approximately $1,833,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of E.W. Scripps by 2,290.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 389,976 shares of the company’s stock worth $1,225,000 after buying an additional 373,659 shares during the last quarter. 67.81% of the stock is currently owned by institutional investors and hedge funds.

E.W. Scripps Stock Up 2.9 %

SSP stock opened at $1.78 on Wednesday. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $153.73 million, a price-to-earnings ratio of -0.57 and a beta of 1.66. 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 fifty day moving average price of $2.33 and a 200 day moving average price of $2.63.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. The company had revenue of $646.30 million for the quarter, compared to analysts’ expectations of $634.01 million. During the same period in the prior year, the business earned ($0.15) EPS. Sell-side analysts expect that The E.W. Scripps Company will post 1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SSP. 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 reduced their target price on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

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.