Pinnacle Associates Ltd. decreased its stake in shares of E.W. Scripps Company (The) (NYSE:SSP) by 4.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,441,317 shares of the company’s stock after selling 63,395 shares during the period. Pinnacle Associates Ltd. owned approximately 1.75% of E.W. Scripps Company (The) worth $25,670,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its position in shares of E.W. Scripps Company (The) by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the company’s stock valued at $408,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of E.W. Scripps Company (The) by 79.4% in the second quarter. State of Alaska Department of Revenue now owns 11,125 shares of the company’s stock valued at $198,000 after buying an additional 4,925 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of E.W. Scripps Company (The) by 95.5% in the first quarter. Tudor Investment Corp ET AL now owns 51,276 shares of the company’s stock valued at $1,202,000 after buying an additional 25,046 shares in the last quarter. State Street Corp raised its position in shares of E.W. Scripps Company (The) by 6.0% in the first quarter. State Street Corp now owns 1,324,982 shares of the company’s stock valued at $31,062,000 after buying an additional 74,928 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of E.W. Scripps Company (The) during the first quarter valued at $1,911,000. 74.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of E.W. Scripps Company (NYSE SSP) opened at 18.32 on Friday. E.W. Scripps Company has a 12-month low of $12.16 and a 12-month high of $24.15. The firm has a 50-day moving average of $18.61 and a 200 day moving average of $19.91. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 26.74 and a beta of 2.01.

E.W. Scripps Company (The) (NYSE:SSP) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. E.W. Scripps Company (The) had a net margin of 6.05% and a return on equity of 5.90%. The company had revenue of $231.82 million for the quarter, compared to analyst estimates of $232.04 million. During the same period in the prior year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts expect that E.W. Scripps Company will post $0.14 earnings per share for the current year.

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Several brokerages recently weighed in on SSP. Jefferies Group LLC restated a “hold” rating and issued a $20.00 price objective on shares of E.W. Scripps Company (The) in a report on Wednesday, August 16th. BidaskClub upgraded shares of E.W. Scripps Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Zacks Investment Research lowered shares of E.W. Scripps Company (The) from a “hold” rating to a “sell” rating in a report on Friday, May 5th. Noble Financial reiterated a “buy” rating on shares of E.W. Scripps Company (The) in a report on Wednesday, August 2nd. Finally, Benchmark Co. reiterated a “buy” rating and issued a $26.00 target price on shares of E.W. Scripps Company (The) in a report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target 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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