E.W. Scripps (NASDAQ:SSP) Price Target Raised to $8.00

E.W. Scripps (NASDAQ:SSP) had its price target upped by Benchmark from $7.00 to $8.00 in a research note released on Thursday,Benzinga reports. Benchmark currently has a buy rating on the stock.

E.W. Scripps Stock Performance

NASDAQ:SSP opened at $2.64 on Thursday. The firm’s 50 day moving average is $1.98 and its two-hundred day moving average is $2.12. E.W. Scripps has a fifty-two week low of $1.36 and a fifty-two week high of $4.65. 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 company has a market cap of $228.00 million, a P/E ratio of -0.85 and a beta of 1.54.

Institutional Investors Weigh In On E.W. Scripps

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSP. Jefferies Financial Group Inc. acquired a new position in E.W. Scripps during the 4th quarter worth $291,000. Public Employees Retirement System of Ohio acquired a new position in E.W. Scripps during the 4th quarter worth $29,000. Two Sigma Advisers LP grew its holdings in E.W. Scripps by 35.3% during the 4th quarter. Two Sigma Advisers LP now owns 471,600 shares of the company’s stock worth $1,042,000 after acquiring an additional 123,100 shares in the last quarter. Two Sigma Investments LP grew its holdings in E.W. Scripps by 16.0% during the 4th quarter. Two Sigma Investments LP now owns 712,221 shares of the company’s stock worth $1,574,000 after acquiring an additional 98,172 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of E.W. Scripps by 50.8% in the 4th quarter. ProShare Advisors LLC now owns 17,268 shares of the company’s stock valued at $38,000 after buying an additional 5,819 shares during the period. Hedge funds and other institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

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.