The E.W. Scripps Company (NASDAQ:SSP) Short Interest Update

The E.W. Scripps Company (NASDAQ:SSP) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 2,150,000 shares, a decline of 19.8% from the December 31st total of 2,680,000 shares. Based on an average daily volume of 686,400 shares, the short-interest ratio is presently 3.1 days.

Hedge Funds Weigh In On E.W. Scripps

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co boosted its holdings in E.W. Scripps by 36.6% during the fourth quarter. Diversified Trust Co now owns 25,644 shares of the company’s stock worth $57,000 after buying an additional 6,868 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of E.W. Scripps by 16.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 52,257 shares of the company’s stock valued at $117,000 after acquiring an additional 7,460 shares during the period. Victory Capital Management Inc. boosted its stake in shares of E.W. Scripps by 5.1% during the 3rd quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock worth $460,000 after acquiring an additional 9,900 shares in the last quarter. Sei Investments Co. purchased a new position in E.W. Scripps in the 2nd quarter valued at approximately $38,000. Finally, American Century Companies Inc. increased its stake in E.W. Scripps by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 89,180 shares of the company’s stock valued at $280,000 after purchasing an additional 13,156 shares in the last quarter. Institutional investors and hedge funds own 67.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Benchmark cut their target price on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

E.W. Scripps Stock Performance

Shares of NASDAQ:SSP traded down $0.10 during trading on Friday, reaching $1.88. The company had a trading volume of 484,582 shares, compared to its average volume of 444,439. E.W. Scripps 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 current ratio of 1.34 and a quick ratio of 1.34. The stock’s fifty day moving average price is $2.16 and its 200 day moving average price is $2.36. The firm has a market capitalization of $162.36 million, a price-to-earnings ratio of -0.61 and a beta of 1.48.

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 the consensus estimate of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The firm had revenue of $646.30 million during the quarter, compared to analyst estimates of $634.01 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. As a group, equities research analysts predict that E.W. Scripps will post 1.07 EPS for the current year.

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.