Barclays PLC Buys 394,580 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Barclays PLC raised its stake in The E.W. Scripps Company (NASDAQ:SSP) by 1,643.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 418,588 shares of the company’s stock after purchasing an additional 394,580 shares during the period. Barclays PLC owned approximately 0.49% of E.W. Scripps worth $941,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Minerva Advisors LLC boosted its holdings in E.W. Scripps by 48.5% in the 3rd quarter. Minerva Advisors LLC now owns 1,192,441 shares of the company’s stock valued at $2,671,000 after purchasing an additional 389,481 shares during the period. GSA Capital Partners LLP boosted its holdings in E.W. Scripps by 1,335.9% in the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock valued at $1,375,000 after purchasing an additional 569,720 shares during the period. Wittenberg Investment Management Inc. boosted its holdings in E.W. Scripps by 52.5% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,646,239 shares of the company’s stock valued at $3,696,000 after purchasing an additional 566,717 shares during the period. AQR Capital Management LLC lifted its holdings in shares of E.W. Scripps by 1,154.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock worth $7,550,000 after acquiring an additional 2,212,959 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of E.W. Scripps during the 2nd quarter worth about $1,833,000. 67.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SSP. StockNews.com raised shares of E.W. Scripps from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Benchmark reduced their price objective on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

E.W. Scripps Price Performance

NASDAQ:SSP opened at $2.01 on Tuesday. The company has a market capitalization of $173.59 million, a price-to-earnings ratio of -0.65 and a beta of 1.52. 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 company has a 50-day moving average of $2.23 and a 200-day moving average of $2.43. The E.W. Scripps Company has a 52 week low of $1.68 and a 52 week high of $9.35.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). The firm had revenue of $646.30 million for the quarter, compared to analyst estimates of $634.01 million. E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. During the same quarter last year, the business earned ($0.15) EPS. As a group, equities research analysts anticipate that The E.W. Scripps Company will post 1.07 earnings per share for the current fiscal 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.