The E.W. Scripps Company (NASDAQ:SSP) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in The E.W. Scripps Company (NASDAQ:SSP) by 23.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 755,359 shares of the company’s stock after selling 226,590 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of E.W. Scripps worth $1,669,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SSP. Diversified Trust Co lifted its holdings in E.W. Scripps by 36.6% in the fourth quarter. Diversified Trust Co now owns 25,644 shares of the company’s stock valued at $57,000 after acquiring an additional 6,868 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of 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. Victory Capital Management Inc. boosted its holdings in E.W. Scripps by 5.1% during the third quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock worth $460,000 after buying an additional 9,900 shares in the last quarter. Empowered Funds LLC grew its position in E.W. Scripps by 5.1% during the fourth quarter. Empowered Funds LLC now owns 291,043 shares of the company’s stock valued at $643,000 after buying an additional 14,205 shares during the period. Finally, Ieq Capital LLC purchased a new position in E.W. Scripps in the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.

E.W. Scripps Price Performance

E.W. Scripps stock opened at $3.14 on Friday. The stock has a market capitalization of $272.24 million, a P/E ratio of -1.01 and a beta of 1.54. The company’s fifty day moving average price is $2.13 and its 200 day moving average price is $2.21. 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 1 year low of $1.36 and a 1 year high of $4.65.

Wall Street Analyst Weigh In

Separately, Benchmark raised their target price on E.W. Scripps from $7.00 to $8.00 and gave the company 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.