Molly Mccabe Sells 60,182 Shares of E.W. Scripps (NASDAQ:SSP) Stock

E.W. Scripps Company (The) (NASDAQ:SSP) major shareholder Molly Mccabe sold 60,182 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $3.35, for a total value of $201,609.70. Following the completion of the transaction, the insider directly owned 266,493 shares in the company, valued at approximately $892,751.55. This represents a 18.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

E.W. Scripps Stock Down 2.0%

SSP stock opened at $3.42 on Friday. The stock’s fifty day simple moving average is $4.04 and its two-hundred day simple moving average is $3.89. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 3.08. E.W. Scripps Company has a 1-year low of $2.02 and a 1-year high of $5.39. The stock has a market cap of $313.07 million, a P/E ratio of -1.85 and a beta of 0.72.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.32. E.W. Scripps had a negative return on equity of 0.56% and a negative net margin of 4.63%.The firm had revenue of $516.87 million for the quarter, compared to analysts’ expectations of $516.86 million. Analysts expect that E.W. Scripps Company will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SSP. Guggenheim reaffirmed a “neutral” rating on shares of E.W. Scripps in a research report on Friday, March 6th. Benchmark dropped their price target on E.W. Scripps from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, Zacks Research raised E.W. Scripps from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, E.W. Scripps has an average rating of “Hold” and a consensus target price of $5.95.

Institutional Trading of E.W. Scripps

Institutional investors have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC lifted its holdings in E.W. Scripps by 151.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 3,599,606 shares of the company’s stock worth $8,864,000 after purchasing an additional 2,169,640 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in E.W. Scripps by 142.3% during the 3rd quarter. New York State Common Retirement Fund now owns 2,318,987 shares of the company’s stock worth $5,705,000 after purchasing an additional 1,361,721 shares in the last quarter. Teton Advisors LLC purchased a new stake in E.W. Scripps during the 3rd quarter worth about $728,000. Gabelli Funds LLC lifted its holdings in E.W. Scripps by 16.5% during the 4th quarter. Gabelli Funds LLC now owns 1,116,616 shares of the company’s stock worth $4,455,000 after purchasing an additional 158,116 shares in the last quarter. Finally, Minerva Advisors LLC lifted its holdings in E.W. Scripps by 10.0% during the 3rd quarter. Minerva Advisors LLC now owns 1,385,920 shares of the company’s stock worth $3,409,000 after purchasing an additional 126,078 shares in the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

E.W. Scripps Company Profile

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.