Punch & Associates Investment Management Inc. reduced its stake in shares of E.W. Scripps Company (The) (NYSE:SSP) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 473,809 shares of the company’s stock after selling 2,285 shares during the quarter. Punch & Associates Investment Management Inc. owned 0.58% of E.W. Scripps Company (The) worth $8,439,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings in E.W. Scripps Company (The) by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares during the period. Alps Advisors Inc. increased its holdings in shares of E.W. Scripps Company (The) by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 20,984 shares of the company’s stock worth $374,000 after purchasing an additional 54 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of E.W. Scripps Company (The) by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the company’s stock worth $408,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System increased its holdings in shares of E.W. Scripps Company (The) by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 29,358 shares of the company’s stock worth $523,000 after purchasing an additional 200 shares during the period. Finally, Texas Permanent School Fund increased its holdings in shares of E.W. Scripps Company (The) by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 41,136 shares of the company’s stock worth $733,000 after purchasing an additional 579 shares during the period. Hedge funds and other institutional investors own 74.99% of the company’s stock.

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Several research firms recently weighed in on SSP. Zacks Investment Research upgraded shares of E.W. Scripps Company (The) from a “hold” rating to a “buy” rating and set a $20.00 target price for the company 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 on the stock in a research note on Monday, June 5th. BidaskClub raised E.W. Scripps Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Noble Financial reiterated a “buy” rating on shares of E.W. Scripps Company (The) in a research report on Wednesday, August 2nd. Finally, Benchmark Co. reiterated a “buy” rating and issued a $26.00 price objective on shares of E.W. Scripps Company (The) in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $22.00.

Shares of E.W. Scripps Company (NYSE:SSP) traded up 0.16% during trading on Monday, hitting $19.14. 135,096 shares of the stock were exchanged. E.W. Scripps Company has a 1-year low of $12.16 and a 1-year high of $24.15. The company has a market cap of $1.57 billion, a P/E ratio of 27.94 and a beta of 2.02. The firm’s 50-day moving average is $18.10 and its 200 day moving average is $19.54.

E.W. Scripps Company (The) (NYSE:SSP) last announced its earnings results on Thursday, August 3rd. The company reported $0.08 earnings per share (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 during the quarter, compared to analysts’ expectations of $232.04 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. E.W. Scripps Company (The)’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts forecast that E.W. Scripps Company will post $0.14 earnings per share for the current fiscal year.

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.

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

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