Bank of New York Mellon Corp Increases Stake in The E.W. Scripps Company (NASDAQ:SSP)

Bank of New York Mellon Corp raised its holdings in shares of The E.W. Scripps Company (NASDAQ:SSP) by 55.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,016 shares of the company’s stock after purchasing an additional 106,220 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.35% of E.W. Scripps worth $661,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of 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 buying an additional 394,580 shares during the period. Foster & Motley Inc. bought a new stake in E.W. Scripps during the 4th quarter worth approximately $75,000. MassMutual Private Wealth & Trust FSB purchased a new stake in E.W. Scripps in the 4th quarter worth approximately $320,000. BNP Paribas Financial Markets boosted its holdings in E.W. Scripps by 16.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,257 shares of the company’s stock valued at $117,000 after purchasing an additional 7,460 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of E.W. Scripps by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,442,144 shares of the company’s stock valued at $3,238,000 after purchasing an additional 51,289 shares in the last quarter. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Stock Down 0.3 %

SSP stock opened at $3.24 on Thursday. The company’s 50 day moving average is $2.09 and its 200 day moving average is $2.19. The stock has a market cap of $280.91 million, a price-to-earnings ratio of -1.05 and a beta of 1.54. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41. The E.W. Scripps Company has a 1-year low of $1.36 and a 1-year high of $4.65.

Analysts Set New Price Targets

Separately, Benchmark increased their price objective on E.W. Scripps from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th.

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.