Barclays PLC Boosts Stock Holdings in The E.W. Scripps Company (NASDAQ:SSP)

Barclays PLC increased its position 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 & Exchange Commission. The fund owned 418,588 shares of the company’s stock after acquiring an additional 394,580 shares during the period. Barclays PLC owned about 0.48% of E.W. Scripps worth $941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in E.W. Scripps by 532,086.1% during the 2nd 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 period. American Century Companies Inc. lifted its position in E.W. Scripps by 17.3% during the second quarter. American Century Companies Inc. now owns 89,180 shares of the company’s stock valued at $280,000 after purchasing an additional 13,156 shares during the period. Oppenheimer Asset Management Inc. lifted its position in E.W. Scripps by 133.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 220,118 shares of the company’s stock valued at $691,000 after purchasing an additional 125,726 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in E.W. Scripps in the second quarter worth approximately $39,000. Finally, Hsbc Holdings PLC grew its position in E.W. Scripps by 323.0% in the 2nd quarter. Hsbc Holdings PLC now owns 58,752 shares of the company’s stock worth $187,000 after purchasing an additional 44,863 shares during the period. 67.81% of the stock is owned by institutional investors.

E.W. Scripps Stock Down 8.3 %

SSP stock opened at $2.10 on Wednesday. The business’s 50-day moving average price is $2.13 and its 200-day moving average price is $2.43. The stock has a market cap of $181.36 million, a P/E ratio of -0.68 and a beta of 1.48. 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 $1.68 and a twelve month high of $9.35.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). The firm had revenue of $646.30 million for the quarter, compared to analysts’ expectations of $634.01 million. E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. During the same period in the prior year, the firm earned ($0.15) EPS. On average, equities research analysts forecast that The E.W. Scripps Company will post 1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark lowered their price objective on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

E.W. Scripps 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.