Sei Investments Co. Purchases New Stake in The E.W. Scripps Company (NASDAQ:SSP)

Sei Investments Co. acquired a new position in shares of The E.W. Scripps Company (NASDAQ:SSP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,044 shares of the company’s stock, valued at approximately $38,000.

Several other large investors have also recently bought and sold shares of SSP. SageView Advisory Group LLC acquired a new stake in shares of E.W. Scripps during the 4th quarter valued at approximately $82,000. PNC Financial Services Group Inc. raised its holdings 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. Vanguard Personalized Indexing Management LLC purchased a new stake in E.W. Scripps during the second quarter worth $39,000. Virtu Financial LLC acquired a new stake in E.W. Scripps in the first quarter valued at $50,000. Finally, CWM LLC increased its position 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 in the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com lowered shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Benchmark dropped their price target on 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.

E.W. Scripps Stock Up 8.2 %

Shares of NASDAQ SSP opened at $2.76 on Friday. The stock has a market capitalization of $237.69 million, a PE ratio of -0.75 and a beta of 1.74. 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 firm has a fifty day moving average of $2.16 and a 200-day moving average of $2.85. 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 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). 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 for the quarter, compared to analysts’ expectations of $586.65 million. During the same quarter in the previous year, the firm posted ($0.09) EPS.

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.