AQR Capital Management LLC Has $7.55 Million Stake in The E.W. Scripps Company (NASDAQ:SSP)

AQR Capital Management LLC raised its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 1,154.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,404,607 shares of the company’s stock after purchasing an additional 2,212,959 shares during the period. AQR Capital Management LLC’s holdings in E.W. Scripps were worth $7,550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of E.W. Scripps during the 2nd quarter valued at about $66,000. Squarepoint Ops LLC boosted its holdings in shares of E.W. Scripps by 767.5% during the 2nd quarter. Squarepoint Ops LLC now owns 638,663 shares of the company’s stock worth $2,005,000 after buying an additional 565,045 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of E.W. Scripps by 2,290.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 389,976 shares of the company’s stock worth $1,225,000 after buying an additional 373,659 shares during the period. Point72 DIFC Ltd acquired a new position in shares of E.W. Scripps during the 2nd quarter valued at $56,000. Finally, Marshall Wace LLP bought a new position in E.W. Scripps during the second quarter worth $1,833,000. 67.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SSP has been the topic of a number of research analyst reports. StockNews.com cut shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Benchmark decreased their price objective on E.W. Scripps from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, August 12th.

E.W. Scripps Stock Up 7.6 %

E.W. Scripps stock opened at $2.42 on Friday. The firm has a 50 day moving average price of $2.29 and a 200-day moving average price of $2.90. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.79. The E.W. Scripps Company has a twelve month low of $1.68 and a twelve month high of $9.35. The company has a market capitalization of $206.64 million, a P/E ratio of -0.21 and a beta of 1.74.

E.W. Scripps (NASDAQ:SSP) last posted its earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). The business had revenue of $573.63 million during the quarter, compared to analysts’ expectations of $586.65 million. E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. During the same quarter in the previous year, the business earned ($0.09) EPS. As a group, equities analysts predict that The E.W. Scripps Company will post 0.75 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.