The E.W. Scripps Company (NASDAQ:SSP) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its stake in The E.W. Scripps Company (NASDAQ:SSP) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,063,700 shares of the company’s stock after selling 77,800 shares during the period. Gabelli Funds LLC owned 1.25% of E.W. Scripps worth $3,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its stake in shares of E.W. Scripps by 1,394.8% in the 4th quarter. Quadrant Capital Group LLC now owns 4,350 shares of the company’s stock worth $35,000 after acquiring an additional 4,059 shares during the period. Sei Investments Co. bought a new stake in shares of E.W. Scripps in the 2nd quarter worth approximately $38,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of E.W. Scripps in the 2nd quarter worth approximately $39,000. CWM LLC raised its holdings in shares of E.W. Scripps by 4,620.6% in the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after purchasing an additional 13,908 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of E.W. Scripps in the 1st quarter worth approximately $50,000. 67.81% of the stock is owned by institutional investors and hedge funds.

E.W. Scripps Stock Performance

Shares of SSP opened at $1.75 on Wednesday. The company’s 50 day moving average price is $2.48 and its 200 day moving average price is $2.98. The E.W. Scripps Company has a 52 week low of $1.68 and a 52 week high of $9.35. The company has a market capitalization of $149.43 million, a PE ratio of -0.15 and a beta of 1.74. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.50 and a current ratio of 1.50.

E.W. Scripps (NASDAQ:SSP) last posted its earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). E.W. Scripps had a negative net margin of 11.06% and a positive return on equity of 2.94%. The company had revenue of $573.63 million for the quarter, compared to the consensus estimate of $586.65 million. During the same quarter last year, the business earned ($0.09) earnings per share. Research analysts expect that The E.W. Scripps Company will post 0.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SSP shares. StockNews.com lowered shares of E.W. Scripps from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Benchmark lowered their price objective on shares of E.W. Scripps from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

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.