The E.W. Scripps Company (NASDAQ:SSP) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in shares of The E.W. Scripps Company (NASDAQ:SSP) by 133.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 220,118 shares of the company’s stock after buying an additional 125,726 shares during the period. Oppenheimer Asset Management Inc. owned 0.26% of E.W. Scripps worth $691,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Teton Advisors Inc. grew its holdings in E.W. Scripps by 0.8% in the 1st quarter. Teton Advisors Inc. now owns 342,600 shares of the company’s stock valued at $1,346,000 after buying an additional 2,800 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of E.W. Scripps by 0.9% in the first quarter. Pinnacle Associates Ltd. now owns 319,414 shares of the company’s stock worth $1,255,000 after acquiring an additional 2,858 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in E.W. Scripps by 1,394.8% in the fourth quarter. Quadrant Capital Group LLC now owns 4,350 shares of the company’s stock valued at $35,000 after purchasing an additional 4,059 shares during the period. PNC Financial Services Group Inc. increased its position in E.W. Scripps by 229.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,761 shares of the company’s stock worth $86,000 after purchasing an additional 7,496 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in E.W. Scripps by 19.6% during the first quarter. Russell Investments Group Ltd. now owns 53,382 shares of the company’s stock worth $210,000 after purchasing an additional 8,745 shares during the period. Institutional investors and hedge funds own 67.81% of the company’s stock.

Analysts Set New Price Targets

SSP has been the subject of a number of research analyst reports. Benchmark dropped 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. StockNews.com downgraded E.W. Scripps from a “hold” rating to a “sell” rating in a report on Thursday, August 15th.

E.W. Scripps Stock Performance

Shares of SSP stock opened at $1.85 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79. The company has a market cap of $157.97 million, a PE ratio of -0.16 and a beta of 1.73. The company’s fifty day simple moving average is $2.55 and its 200-day simple moving average is $3.03. The E.W. Scripps Company has a 52 week low of $1.68 and a 52 week high of $9.35.

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