Victory Capital Management Inc. Buys 9,900 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Victory Capital Management Inc. increased its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,900 shares of the company’s stock after acquiring an additional 9,900 shares during the quarter. Victory Capital Management Inc. owned approximately 0.24% of E.W. Scripps worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of E.W. Scripps by 270.6% during the second quarter. Millennium Management LLC now owns 3,001,601 shares of the company’s stock valued at $9,425,000 after acquiring an additional 2,191,666 shares during the last quarter. AQR Capital Management LLC increased its holdings in E.W. Scripps by 1,154.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock valued at $7,550,000 after purchasing an additional 2,212,959 shares during the period. Assenagon Asset Management S.A. raised its position in E.W. Scripps by 1,619.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock valued at $6,918,000 after purchasing an additional 2,075,027 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in E.W. Scripps by 767.5% in the 2nd quarter. Squarepoint Ops LLC now owns 638,663 shares of the company’s stock worth $2,005,000 after buying an additional 565,045 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of E.W. Scripps by 1,335.9% in the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock worth $1,375,000 after buying an additional 569,720 shares during the last quarter. 67.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SSP has been the subject of a number of recent analyst reports. Benchmark decreased their target price on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

E.W. Scripps Stock Performance

E.W. Scripps stock opened at $2.00 on Friday. The stock’s 50 day simple moving average is $2.35 and its two-hundred day simple moving average is $2.53. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $172.72 million, a price-to-earnings ratio of -0.65 and a beta of 1.66. The E.W. Scripps Company has a fifty-two week low of $1.68 and a fifty-two week high of $9.35.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). The firm had revenue of $646.30 million for the quarter, compared to the consensus estimate of $634.01 million. E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. During the same period in the previous year, the firm posted ($0.15) earnings per share. As a group, analysts expect that The E.W. Scripps Company will post 1.07 earnings per share for the current fiscal year.

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.