Algert Global LLC Has $333,000 Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Algert Global LLC grew its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 142.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,980 shares of the company’s stock after acquiring an additional 62,300 shares during the quarter. Algert Global LLC owned 0.12% of E.W. Scripps worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. acquired a new position in E.W. Scripps during the 2nd quarter valued at $38,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of E.W. Scripps during the second quarter valued at about $39,000. CWM LLC lifted 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 valued at $45,000 after buying an additional 13,908 shares during the period. Virtu Financial LLC acquired a new stake in E.W. Scripps during the first quarter worth about $50,000. Finally, Optas LLC bought a new position in E.W. Scripps during the second quarter valued at about $50,000. Institutional investors and hedge funds own 67.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Benchmark cut their price target 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 lowered E.W. Scripps from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th.

E.W. Scripps Stock Performance

NASDAQ SSP opened at $2.51 on Wednesday. The E.W. Scripps Company has a twelve month low of $1.68 and a twelve month high of $9.35. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.79. The stock has a market cap of $214.33 million, a P/E ratio of -0.22 and a beta of 1.74. The company’s 50-day simple moving average is $2.24 and its 200 day simple moving average is $2.87.

E.W. Scripps (NASDAQ:SSP) last issued its earnings results 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 company had revenue of $573.63 million during the quarter, compared to analyst estimates of $586.65 million. E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. During the same period in the previous year, the company posted ($0.09) earnings per share. As a group, research analysts forecast that The E.W. Scripps Company will post 0.75 earnings per share for the current fiscal year.

E.W. Scripps Company 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.