The E.W. Scripps Company (NASDAQ:SSP) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its holdings in shares of The E.W. Scripps Company (NASDAQ:SSP) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,838 shares of the company’s stock after acquiring an additional 14,070 shares during the period. Empowered Funds LLC owned approximately 0.32% of E.W. Scripps worth $622,000 as of its most recent SEC filing.

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

E.W. Scripps Stock Up 6.6 %

SSP opened at $2.10 on Friday. The company has a market capitalization of $181.36 million, a PE ratio of -0.68 and a beta of 1.66. The business has a 50-day moving average of $2.34 and a 200-day moving average of $2.59. The E.W. Scripps Company has a fifty-two week low of $1.68 and a fifty-two week high of $9.35. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34.

E.W. Scripps (NASDAQ:SSP) last posted its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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 business had revenue of $646.30 million for the quarter, compared to analyst estimates of $634.01 million. During the same period in the previous year, the company earned ($0.15) earnings per share. Equities research analysts forecast that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SSP. StockNews.com upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark cut their target price on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research 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.