Scripps Networks Interactive, Inc. (SNI) Sees Significant Growth in Short Interest
Scripps Networks Interactive, Inc. (NASDAQ:SNI) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 5,645,762 shares, a growth of 46.9% from the November 30th total of 3,842,418 shares. Based on an average daily volume of 1,081,985 shares, the days-to-cover ratio is currently 5.2 days. Approximately 6.5% of the shares of the company are short sold.
In other Scripps Networks Interactive news, Director Michael R. Costa sold 18,955 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $83.64, for a total value of $1,585,396.20. Following the sale, the director now directly owns 13,035 shares in the company, valued at $1,090,247.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Sagansky sold 1,077 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $79.61, for a total value of $85,739.97. Following the completion of the sale, the director now owns 7,520 shares in the company, valued at $598,667.20. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SNI. Schwab Charles Investment Management Inc. grew its holdings in Scripps Networks Interactive by 17.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 500,910 shares of the company’s stock worth $34,218,000 after acquiring an additional 73,006 shares during the period. Advisors Asset Management Inc. grew its holdings in Scripps Networks Interactive by 8.8% during the second quarter. Advisors Asset Management Inc. now owns 10,046 shares of the company’s stock worth $686,000 after acquiring an additional 810 shares during the period. State of Wisconsin Investment Board grew its holdings in Scripps Networks Interactive by 37.7% during the second quarter. State of Wisconsin Investment Board now owns 75,059 shares of the company’s stock worth $5,127,000 after acquiring an additional 20,550 shares during the period. Legal & General Group Plc grew its holdings in Scripps Networks Interactive by 9.1% during the second quarter. Legal & General Group Plc now owns 389,801 shares of the company’s stock worth $26,627,000 after acquiring an additional 32,575 shares during the period. Finally, Federated Investors Inc. PA grew its holdings in Scripps Networks Interactive by 48.4% during the second quarter. Federated Investors Inc. PA now owns 2,378 shares of the company’s stock worth $163,000 after acquiring an additional 776 shares during the period. 60.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on SNI shares. Royal Bank of Canada set a $90.00 target price on Scripps Networks Interactive and gave the company a “hold” rating in a research note on Friday, October 20th. Cowen reiterated a “hold” rating and issued a $90.00 target price on shares of Scripps Networks Interactive in a research note on Friday, September 8th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Scripps Networks Interactive in a research note on Tuesday, September 12th. Finally, BidaskClub cut Scripps Networks Interactive from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $85.62.
Scripps Networks Interactive (NASDAQ:SNI) opened at $86.64 on Wednesday. The company has a market capitalization of $11,092.14, a price-to-earnings ratio of 18.55, a PEG ratio of 2.16 and a beta of 1.44. Scripps Networks Interactive has a fifty-two week low of $64.87 and a fifty-two week high of $88.45. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.90.
Scripps Networks Interactive (NASDAQ:SNI) last released its earnings results on Wednesday, November 1st. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The firm had revenue of $825.53 million for the quarter, compared to analyst estimates of $838.63 million. Scripps Networks Interactive had a return on equity of 27.04% and a net margin of 17.46%. During the same period in the previous year, the company earned $1.26 earnings per share. sell-side analysts predict that Scripps Networks Interactive will post 5.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Thursday, November 30th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Wednesday, November 29th. Scripps Networks Interactive’s payout ratio is currently 12.85%.
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About Scripps Networks Interactive
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.
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