Gamco Investors, Inc. Et Al

recently stated that they own 16.1% of E.W. Scripps Company (The) (NYSE:SSP) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, August 16th. The investor owns 11,321,962 shares of the stock valued at approximately $207,191,905. The reporting parties listed on the disclosure included Gabelli Funds, LLC ID No 134044523, GAMCO Asset Management Inc ID No 134044521, Gabelli & Company Investment Advisers, Inc ID No 133379374, Gabelli Foundation, Inc ID No 942975159, Teton Advisors, Inc ID No 134008049, MJG Associates, Inc ID No 061304269, GGCP, Inc ID No 133056041, GAMCO Investors, Inc ID No 134007862, Associated Capital Group, Inc ID No 473965991 and Mario J Gabelli. The disclosure is available through EDGAR at this link.

Gamco Investors, Inc. Et Al

provided the following explanation of their ownership:

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Several other hedge funds have also recently modified their holdings of SSP. Eagle Asset Management Inc. purchased a new stake in shares of E.W. Scripps Company (The) during the first quarter valued at about $15,360,000. US Bancorp DE raised its stake in shares of E.W. Scripps Company (The) by 2.3% in the first quarter. US Bancorp DE now owns 146,142 shares of the company’s stock valued at $3,426,000 after buying an additional 3,229 shares during the last quarter. Tealwood Asset Management Inc. raised its stake in shares of E.W. Scripps Company (The) by 2.2% in the second quarter. Tealwood Asset Management Inc. now owns 162,195 shares of the company’s stock valued at $2,889,000 after buying an additional 3,445 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of E.W. Scripps Company (The) during the first quarter valued at about $1,911,000. Finally, Alambic Investment Management L.P. purchased a new stake in shares of E.W. Scripps Company (The) during the first quarter valued at about $639,000. Hedge funds and other institutional investors own 74.85% of the company’s stock.

Shares of E.W. Scripps Company (SSP) traded up 0.77% during trading on Wednesday, hitting $18.30. The stock had a trading volume of 507,600 shares. The stock’s 50-day moving average price is $18.56 and its 200 day moving average price is $20.09. The firm has a market capitalization of $1.50 billion, a P/E ratio of 26.72 and a beta of 2.01. E.W. Scripps Company has a 1-year low of $12.16 and a 1-year high of $24.15.

E.W. Scripps Company (The) (NYSE:SSP) last announced its earnings results on Thursday, August 3rd. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. E.W. Scripps Company (The) had a return on equity of 5.90% and a net margin of 6.05%. The company had revenue of $231.82 million for the quarter, compared to analysts’ expectations of $232.04 million. During the same period last year, the firm earned $0.14 EPS. E.W. Scripps Company (The)’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts anticipate that E.W. Scripps Company will post $0.14 earnings per share for the current year.

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Several analysts have issued reports on SSP shares. Zacks Investment Research upgraded E.W. Scripps Company (The) from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, July 12th. Jefferies Group LLC upgraded E.W. Scripps Company (The) to a “hold” rating and set a $20.00 price target for the company in a research report on Monday, June 5th. Benchmark Co. reiterated a “buy” rating and issued a $26.00 price target on shares of E.W. Scripps Company (The) in a research report on Thursday, July 13th. BidaskClub upgraded E.W. Scripps Company (The) from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Noble Financial reiterated a “buy” rating on shares of E.W. Scripps Company (The) in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.00.

E.W. Scripps Company (The) Company Profile

The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

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Institutional Ownership by Quarter for E.W. Scripps Company (The) (NYSE:SSP)

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