Contrarius Investment Management Ltd bought a new position in E.W. Scripps Company (The) (NYSE:SSP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 216,691 shares of the company’s stock, valued at approximately $3,859,000. Contrarius Investment Management Ltd owned approximately 0.26% of E.W. Scripps Company (The) as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of E.W. Scripps Company (The) during the fourth quarter worth $1,177,000. US Bancorp DE raised its position 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 worth $3,426,000 after buying an additional 3,229 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of E.W. Scripps Company (The) by 41.5% in the first quarter. UBS Asset Management Americas Inc. now owns 15,335 shares of the company’s stock worth $359,000 after buying an additional 4,500 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of E.W. Scripps Company (The) by 3.2% in the first quarter. Ameriprise Financial Inc. now owns 294,819 shares of the company’s stock worth $6,910,000 after buying an additional 9,222 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of E.W. Scripps Company (The) during the first quarter worth $15,360,000. Institutional investors and hedge funds own 74.99% of the company’s stock.

E.W. Scripps Company (SSP) traded down 1.1069% during trading on Tuesday, hitting $17.9491. The stock had a trading volume of 8,981 shares. E.W. Scripps Company has a 52-week low of $12.16 and a 52-week high of $24.15. The company has a 50-day moving average of $18.61 and a 200 day moving average of $19.99. The firm has a market cap of $1.48 billion, a P/E ratio of 26.2031 and a beta of 2.01.

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

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SSP has been the topic of a number of research analyst reports. Zacks Investment Research lowered E.W. Scripps Company (The) from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. Jefferies Group LLC upgraded E.W. Scripps Company (The) to a “hold” rating and set a $20.00 price objective for the company in a report on Monday, June 5th. BidaskClub upgraded E.W. Scripps Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Benchmark Co. reiterated a “buy” rating and issued a $26.00 price objective on shares of E.W. Scripps Company (The) in a report on Thursday, July 13th. Finally, Noble Financial reiterated a “buy” rating on shares of E.W. Scripps Company (The) in a 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 currently has an average rating of “Buy” and a consensus target price of $22.00.

About E.W. Scripps Company (The)

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.

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

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