Victory Capital Management Inc. Sells 4,344,599 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Victory Capital Management Inc. lowered its stake in The E.W. Scripps Company (NASDAQ:SSP) by 95.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,000 shares of the company’s stock after selling 4,344,599 shares during the quarter. Victory Capital Management Inc. owned approximately 0.23% of E.W. Scripps worth $612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Cove Street Capital LLC boosted its stake in E.W. Scripps by 34.2% in the 1st quarter. Cove Street Capital LLC now owns 3,703,082 shares of the company’s stock worth $14,553,000 after purchasing an additional 944,328 shares during the period. Gamco Investors INC. ET AL boosted its stake in E.W. Scripps by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,360,347 shares of the company’s stock worth $13,206,000 after purchasing an additional 27,192 shares during the period. Assenagon Asset Management S.A. boosted its stake in E.W. Scripps by 1,619.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock worth $6,918,000 after purchasing an additional 2,075,027 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in E.W. Scripps by 21.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,203,306 shares of the company’s stock worth $9,614,000 after purchasing an additional 210,673 shares during the period. Finally, Gabelli Funds LLC boosted its stake in E.W. Scripps by 2.2% in the 1st quarter. Gabelli Funds LLC now owns 1,141,500 shares of the company’s stock worth $4,486,000 after purchasing an additional 25,000 shares during the period. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Stock Performance

NASDAQ:SSP opened at $1.85 on Monday. The business’s 50-day moving average price is $2.55 and its two-hundred day moving average price is $3.02. The E.W. Scripps Company has a twelve month low of $1.68 and a twelve month high of $9.35. The stock has a market cap of $157.97 million, a P/E ratio of -0.16 and a beta of 1.73. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.79.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on SSP shares. Benchmark cut their target price on E.W. Scripps from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com cut E.W. Scripps from a “hold” rating to a “sell” rating in a report on Thursday, August 15th.

E.W. Scripps 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.