American Century Companies Inc. Purchases 13,156 Shares of The E.W. Scripps Company (NASDAQ:SSP)

American Century Companies Inc. increased its position in The E.W. Scripps Company (NASDAQ:SSP) by 17.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,180 shares of the company’s stock after purchasing an additional 13,156 shares during the period. American Century Companies Inc. owned approximately 0.10% of E.W. Scripps worth $280,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CWM LLC boosted its stake in E.W. Scripps by 4,620.6% in the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after purchasing an additional 13,908 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of E.W. Scripps during the 1st quarter valued at about $50,000. Optas LLC purchased a new stake in shares of E.W. Scripps during the 2nd quarter valued at about $50,000. Nisa Investment Advisors LLC increased its position in shares of E.W. Scripps by 423.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,741 shares of the company’s stock valued at $53,000 after purchasing an additional 13,541 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in shares of E.W. Scripps during the 4th quarter valued at about $82,000. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Trading Up 6.6 %

E.W. Scripps stock opened at $2.58 on Friday. The firm has a 50 day moving average of $2.29 and a 200 day moving average of $2.90. The firm has a market capitalization of $220.31 million, a price-to-earnings ratio of -0.22 and a beta of 1.74. The E.W. Scripps Company has a 12-month low of $1.68 and a 12-month high of $9.35. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79.

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

Wall Street Analyst Weigh In

SSP has been the subject of several research reports. Benchmark reduced their price target on shares of E.W. Scripps from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 12th. StockNews.com lowered shares of 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.