JPMorgan Chase & Co. Acquires 66,885 Shares of The E.W. Scripps Company (NASDAQ:SSP)

JPMorgan Chase & Co. boosted its holdings in shares of The E.W. Scripps Company (NASDAQ:SSP) by 245.1% during the third quarter, HoldingsChannel reports. The fund owned 94,171 shares of the company’s stock after purchasing an additional 66,885 shares during the quarter. JPMorgan Chase & Co.’s holdings in E.W. Scripps were worth $211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new position in E.W. Scripps in the second quarter valued at $38,000. Diversified Trust Co bought a new position in shares of E.W. Scripps in the 3rd quarter worth about $42,000. Mackenzie Financial Corp acquired a new position in shares of E.W. Scripps in the 2nd quarter valued at about $64,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of E.W. Scripps during the 2nd quarter valued at about $66,000. Finally, BNP Paribas Financial Markets grew 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 purchasing an additional 7,460 shares during the period. 67.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SSP has been the subject of a number of research reports. Benchmark reduced their price target on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com raised E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

E.W. Scripps Trading Down 5.1 %

Shares of SSP opened at $1.88 on Friday. The firm has a market cap of $162.36 million, a P/E ratio of -0.61 and a beta of 1.48. The E.W. Scripps Company has a fifty-two week low of $1.68 and a fifty-two week high of $8.39. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34. The business has a 50-day moving average of $2.16 and a 200 day moving average of $2.36.

E.W. Scripps (NASDAQ:SSP) last issued 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 company had revenue of $646.30 million during the quarter, compared to the consensus estimate of $634.01 million. During the same quarter in the prior year, the business earned ($0.15) EPS. As a group, research analysts forecast that The E.W. Scripps Company will post 1.07 EPS for the current year.

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.