Central Pacific Bank Trust Division Has $44,000 Stake in The E.W. Scripps Company (NASDAQ:SSP)

Central Pacific Bank Trust Division cut its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 60.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the company’s stock after selling 31,000 shares during the quarter. Central Pacific Bank Trust Division’s holdings in E.W. Scripps were worth $44,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SSP. JPMorgan Chase & Co. boosted its holdings in E.W. Scripps by 245.1% in the third quarter. JPMorgan Chase & Co. now owns 94,171 shares of the company’s stock valued at $211,000 after acquiring an additional 66,885 shares during the last quarter. Barclays PLC lifted its position in shares of E.W. Scripps by 1,643.5% in the 3rd quarter. Barclays PLC now owns 418,588 shares of the company’s stock worth $941,000 after purchasing an additional 394,580 shares during the period. Geode Capital Management LLC boosted its stake in shares of E.W. Scripps by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,442,144 shares of the company’s stock valued at $3,238,000 after purchasing an additional 51,289 shares during the last quarter. XTX Topco Ltd increased its position in shares of E.W. Scripps by 27.9% during the third quarter. XTX Topco Ltd now owns 234,395 shares of the company’s stock worth $526,000 after buying an additional 51,108 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in E.W. Scripps by 16.7% during the third quarter. BNP Paribas Financial Markets now owns 52,257 shares of the company’s stock worth $117,000 after buying an additional 7,460 shares during the last quarter. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Stock Down 0.8 %

Shares of NASDAQ SSP opened at $2.50 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41. The firm has a market cap of $215.91 million, a PE ratio of -0.81 and a beta of 1.52. The company’s fifty day simple moving average is $2.20 and its 200 day simple moving average is $2.44. The E.W. Scripps Company has a 12-month low of $1.68 and a 12-month high of $9.35.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings data 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 the consensus estimate of $634.01 million. During the same period last year, the company earned ($0.15) EPS. As a group, sell-side analysts forecast that The E.W. Scripps Company will post 1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. 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 decreased their target price on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research note 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.