Hsbc Holdings PLC Purchases 44,863 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Hsbc Holdings PLC increased its position in shares of The E.W. Scripps Company (NASDAQ:SSP) by 323.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,752 shares of the company’s stock after purchasing an additional 44,863 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of E.W. Scripps worth $187,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SSP. SageView Advisory Group LLC acquired a new position in E.W. Scripps in the fourth quarter worth $82,000. PNC Financial Services Group Inc. grew its holdings in E.W. Scripps by 229.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,761 shares of the company’s stock worth $86,000 after acquiring an additional 7,496 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in E.W. Scripps during the 2nd quarter worth about $39,000. Virtu Financial LLC acquired a new stake in E.W. Scripps in the 1st quarter valued at about $50,000. Finally, CWM LLC raised its stake in shares of E.W. Scripps by 4,620.6% in the second quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after acquiring an additional 13,908 shares during the last quarter. 67.81% of the stock is owned by institutional investors.

E.W. Scripps Stock Up 6.6 %

Shares of NASDAQ SSP opened at $2.58 on Friday. The E.W. Scripps Company has a 1 year low of $1.68 and a 1 year high of $9.35. The firm’s 50-day moving average is $2.26 and its 200-day moving average is $2.89. 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 firm has a market capitalization of $220.31 million, a PE ratio of -0.22 and a beta of 1.74.

E.W. Scripps (NASDAQ:SSP) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The business had revenue of $573.63 million during the quarter, compared to the consensus estimate 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 previous year, the business posted ($0.09) earnings per share. Equities analysts expect that The E.W. Scripps Company will post 0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.