Thrivent Financial for Lutherans Trims Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Thrivent Financial for Lutherans decreased its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 28.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 352,280 shares of the company’s stock after selling 142,227 shares during the quarter. Thrivent Financial for Lutherans owned 0.41% of E.W. Scripps worth $779,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SSP. Victory Capital Management Inc. grew its holdings in E.W. Scripps by 3.3% during the fourth quarter. Victory Capital Management Inc. now owns 211,740 shares of the company’s stock valued at $468,000 after purchasing an additional 6,840 shares during the period. Diversified Trust Co grew its stake in shares of E.W. Scripps by 36.6% during the 4th 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 increased 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 worth $117,000 after acquiring an additional 7,460 shares in the last quarter. Empowered Funds LLC increased its holdings in E.W. Scripps by 5.1% in the 4th quarter. Empowered Funds LLC now owns 291,043 shares of the company’s stock worth $643,000 after acquiring an additional 14,205 shares in the last quarter. Finally, Ieq Capital LLC bought a new stake in E.W. Scripps during the 4th quarter worth approximately $45,000. 67.81% of the stock is currently owned by institutional investors.

E.W. Scripps Stock Performance

NASDAQ SSP opened at $2.98 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41. The E.W. Scripps Company has a twelve month low of $1.36 and a twelve month high of $4.65. The business has a 50-day moving average price of $2.17 and a 200-day moving average price of $2.23. The firm has a market cap of $258.37 million, a price-to-earnings ratio of -0.96 and a beta of 1.54.

Wall Street Analyst Weigh In

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

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.