Central Pacific Bank Trust Division Has $44,000 Stake in The E.W. Scripps Company (NASDAQ:SSP)

Central Pacific Bank Trust Division lessened its holdings in shares of The E.W. Scripps Company (NASDAQ:SSP) by 60.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after selling 31,000 shares during the period. Central Pacific Bank Trust Division’s holdings in E.W. Scripps were worth $44,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Minerva Advisors LLC grew its stake in 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 buying an additional 389,481 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of E.W. Scripps by 1,335.9% during the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock worth $1,375,000 after acquiring an additional 569,720 shares in the last quarter. Wittenberg Investment Management Inc. increased its stake in E.W. Scripps by 52.5% in the third quarter. Wittenberg Investment Management Inc. now owns 1,646,239 shares of the company’s stock valued at $3,696,000 after acquiring an additional 566,717 shares during the last quarter. Barclays PLC raised its position in E.W. Scripps by 1,643.5% during the third quarter. Barclays PLC now owns 418,588 shares of the company’s stock valued at $941,000 after purchasing an additional 394,580 shares in the last quarter. Finally, 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 worth $7,550,000 after purchasing an additional 2,212,959 shares during the last quarter. 67.81% of the stock is owned by institutional investors.

E.W. Scripps Stock Down 0.8 %

Shares of SSP opened at $2.50 on Monday. 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 E.W. Scripps Company has a 52 week low of $1.68 and a 52 week high of $9.35. The stock has a market capitalization of $215.91 million, a price-to-earnings ratio of -0.81 and a beta of 1.52. The stock has a fifty day moving average of $2.20 and a 200-day moving average of $2.44.

E.W. Scripps (NASDAQ:SSP) last posted its 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 firm had revenue of $646.30 million during 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 quarter in the prior year, the business posted ($0.15) earnings per share. As a group, sell-side analysts anticipate that The E.W. Scripps Company will post 1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SSP shares. StockNews.com raised E.W. Scripps from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Benchmark lowered their target price on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

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.