The E.W. Scripps Company (NASDAQ:SSP) Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,442,144 shares of the company’s stock after purchasing an additional 51,289 shares during the period. Geode Capital Management LLC’s holdings in E.W. Scripps were worth $3,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SSP. Sei Investments Co. acquired a new position in shares of E.W. Scripps in the second quarter valued at $38,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of E.W. Scripps in the 2nd quarter valued at about $39,000. Point72 DIFC Ltd bought a new stake in E.W. Scripps in the second quarter valued at about $56,000. Diversified Trust Co bought a new position in shares of E.W. Scripps during the third quarter worth $42,000. Finally, Mackenzie Financial Corp acquired a new position in shares of E.W. Scripps in the 2nd quarter valued at approximately $64,000. Institutional investors and hedge funds own 67.81% of the company’s stock.

E.W. Scripps Stock Performance

NASDAQ SSP opened at $2.68 on Tuesday. The E.W. Scripps Company has a 12-month low of $1.68 and a 12-month high of $9.35. The firm has a 50-day moving average price of $2.20 and a two-hundred day moving average price of $2.44. The company has a market capitalization of $231.45 million, a P/E ratio of -0.86 and a beta of 1.48. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41.

E.W. Scripps (NASDAQ:SSP) last announced 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 firm had revenue of $646.30 million for the quarter, compared to analyst estimates of $634.01 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. Analysts anticipate 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 issued reports on SSP. StockNews.com upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Benchmark dropped their price target on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

E.W. Scripps Company 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.