The E.W. Scripps Company (NASDAQ:SSP) Stake Reduced by Verition Fund Management LLC

Verition Fund Management LLC decreased its holdings in shares of The E.W. Scripps Company (NASDAQ:SSP) by 71.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,099 shares of the company’s stock after selling 55,857 shares during the period. Verition Fund Management LLC’s holdings in E.W. Scripps were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Minerva Advisors LLC raised its position in shares of E.W. Scripps by 48.5% during the third quarter. Minerva Advisors LLC now owns 1,192,441 shares of the company’s stock worth $2,671,000 after purchasing an additional 389,481 shares during the period. GSA Capital Partners LLP increased its stake in 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 purchasing an additional 569,720 shares in the last quarter. Wittenberg Investment Management Inc. raised its holdings in E.W. Scripps by 52.5% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,646,239 shares of the company’s stock worth $3,696,000 after buying an additional 566,717 shares during the period. AQR Capital Management LLC lifted its stake in E.W. Scripps by 1,154.7% during the second quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock valued at $7,550,000 after buying an additional 2,212,959 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of E.W. Scripps in the second quarter worth about $1,833,000. Institutional investors and hedge funds own 67.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SSP shares. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark reduced 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.

E.W. Scripps Trading Down 5.1 %

NASDAQ:SSP opened at $2.03 on Wednesday. The stock has a market cap of $175.32 million, a PE ratio of -0.65 and a beta of 1.52. The E.W. Scripps Company has a fifty-two week low of $1.68 and a fifty-two week high of $9.35. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s 50-day moving average is $2.35 and its two-hundred day moving average is $2.46.

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

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.