Scripps Networks Interactive Inc. (SNI) Major Shareholder Sells $9,239,039.72 in Stock
Scripps Networks Interactive Inc. (NASDAQ:SNI) major shareholder Julia Scripps Heidt sold 152,863 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $60.44, for a total transaction of $9,239,039.72. Following the transaction, the insider now owns 208,766 shares in the company, valued at $12,617,817.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Scripps Networks Interactive Inc. (NASDAQ:SNI) opened at 60.11 on Tuesday. Scripps Networks Interactive Inc. has a 12 month low of $47.62 and a 12 month high of $68.44. The stock’s 50 day moving average is $63.65 and its 200 day moving average is $64.14. The company has a market cap of $7.76 billion, a P/E ratio of 10.20 and a beta of 1.24.
Scripps Networks Interactive (NASDAQ:SNI) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $892.80 million for the quarter, compared to analyst estimates of $893.46 million. Scripps Networks Interactive had a net margin of 22.91% and a return on equity of 35.33%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.47 EPS. On average, analysts anticipate that Scripps Networks Interactive Inc. will post $5.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.00 annualized dividend and a yield of 1.66%. Scripps Networks Interactive’s dividend payout ratio is presently 16.98%.
A number of large investors have recently bought and sold shares of the company. IFP Advisors Inc increased its stake in Scripps Networks Interactive by 38.2% in the first quarter. IFP Advisors Inc now owns 6,350 shares of the company’s stock valued at $416,000 after buying an additional 1,756 shares in the last quarter. Virginia Retirement System acquired a new stake in Scripps Networks Interactive during the first quarter valued at approximately $16,266,000. Aperio Group LLC increased its stake in Scripps Networks Interactive by 8.2% in the first quarter. Aperio Group LLC now owns 54,950 shares of the company’s stock valued at $3,599,000 after buying an additional 4,160 shares in the last quarter. Commonwealth Equity Services Inc acquired a new stake in Scripps Networks Interactive during the first quarter valued at approximately $294,000. Finally, Raub Brock Capital Management LP increased its stake in Scripps Networks Interactive by 8.0% in the first quarter. Raub Brock Capital Management LP now owns 196,249 shares of the company’s stock valued at $12,854,000 after buying an additional 14,587 shares in the last quarter. Institutional investors and hedge funds own 66.39% of the company’s stock.
A number of brokerages have recently issued reports on SNI. Evercore ISI lowered shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a research report on Wednesday, August 10th. MKM Partners reiterated a “hold” rating on shares of Scripps Networks Interactive in a research report on Monday, July 18th. Citigroup Inc. reduced their target price on shares of Scripps Networks Interactive from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Scripps Networks Interactive in a research report on Friday, July 8th. Finally, Stifel Nicolaus upgraded shares of Scripps Networks Interactive from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $69.73.
Scripps Networks Interactive Company Profile
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for linear and interactive video platforms, including television and the Internet brands. The Company’s segments include U.S. Networks, International Networks, and Corporate and Other. Its U.S. Networks segment includes its approximately six national television networks: HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country.
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