The E.W. Scripps Company (NASDAQ:SSP) is Cove Street Capital LLC’s 9th Largest Position

Cove Street Capital LLC reduced its position in The E.W. Scripps Company (NASDAQ:SSP) by 53.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,264,424 shares of the company’s stock after selling 1,448,936 shares during the period. E.W. Scripps accounts for about 3.3% of Cove Street Capital LLC’s investment portfolio, making the stock its 9th biggest position. Cove Street Capital LLC owned about 1.46% of E.W. Scripps worth $2,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSP. Geode Capital Management LLC raised its holdings in shares of E.W. Scripps by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,442,144 shares of the company’s stock worth $3,238,000 after acquiring an additional 51,289 shares in the last quarter. JPMorgan Chase & Co. raised its stake in E.W. Scripps by 428.7% during the fourth quarter. JPMorgan Chase & Co. now owns 497,862 shares of the company’s stock valued at $1,100,000 after purchasing an additional 403,691 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in E.W. Scripps by 18.0% during the third quarter. Thrivent Financial for Lutherans now owns 494,507 shares of the company’s stock valued at $1,110,000 after purchasing an additional 75,380 shares in the last quarter. Barclays PLC grew its stake in shares of E.W. Scripps by 1,643.5% in the 3rd quarter. Barclays PLC now owns 418,588 shares of the company’s stock worth $941,000 after buying an additional 394,580 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of E.W. Scripps by 55.1% in the 4th quarter. Bank of New York Mellon Corp now owns 299,016 shares of the company’s stock worth $661,000 after buying an additional 106,220 shares during the last quarter. 67.81% of the stock is owned by institutional investors.

E.W. Scripps Stock Down 4.8 %

Shares of SSP opened at $3.14 on Friday. 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 business has a fifty day moving average of $2.13 and a 200 day moving average of $2.21. The company has a market cap of $272.24 million, a PE ratio of -1.01 and a beta of 1.54. The E.W. Scripps Company has a 52-week low of $1.36 and a 52-week high of $4.65.

Wall Street Analyst Weigh In

Separately, Benchmark increased their price target on shares of E.W. Scripps from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, March 13th.

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.