Cubist Systematic Strategies LLC Boosts Stock Holdings in The E.W. Scripps Company (NASDAQ:SSP)

Cubist Systematic Strategies LLC raised its holdings in shares of The E.W. Scripps Company (NASDAQ:SSP) by 2,290.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 389,976 shares of the company’s stock after buying an additional 373,659 shares during the period. Cubist Systematic Strategies LLC owned about 0.46% of E.W. Scripps worth $1,225,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of E.W. Scripps by 1,619.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock valued at $6,918,000 after acquiring an additional 2,075,027 shares during the last quarter. Cove Street Capital LLC raised its stake in shares of E.W. Scripps by 34.2% during the first quarter. Cove Street Capital LLC now owns 3,703,082 shares of the company’s stock valued at $14,553,000 after acquiring an additional 944,328 shares during the last quarter. Marshall Wace LLP bought a new position in shares of E.W. Scripps during the second quarter valued at about $1,833,000. Thrivent Financial for Lutherans raised its stake in shares of E.W. Scripps by 709.5% during the second quarter. Thrivent Financial for Lutherans now owns 419,127 shares of the company’s stock valued at $1,316,000 after acquiring an additional 367,348 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of E.W. Scripps by 532,086.1% during the second quarter. Acadian Asset Management LLC now owns 191,587 shares of the company’s stock valued at $599,000 after acquiring an additional 191,551 shares during the last quarter. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Benchmark decreased their price target on shares of E.W. Scripps from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 12th.

E.W. Scripps Price Performance

SSP stock opened at $2.20 on Wednesday. The E.W. Scripps Company has a 1 year low of $1.68 and a 1 year high of $9.35. The company has a market cap of $187.86 million, a P/E ratio of -0.19 and a beta of 1.73. The firm has a 50-day moving average of $2.34 and a 200 day moving average of $2.91. The company has a debt-to-equity ratio of 3.79, a current ratio of 1.50 and a quick ratio of 1.50.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. The company had revenue of $573.63 million during the quarter, compared to the consensus estimate of $586.65 million. During the same period in the previous year, the company earned ($0.09) earnings per share. On average, sell-side analysts forecast that The E.W. Scripps Company will post 0.75 EPS for the current year.

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.