E.W. Scripps (NASDAQ:SSP) CEO Purchases $99,297.90 in Stock

E.W. Scripps Company (The) (NASDAQ:SSP) CEO Adam Symson purchased 26,910 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were bought at an average price of $3.69 per share, for a total transaction of $99,297.90. Following the purchase, the chief executive officer directly owned 1,164,457 shares in the company, valued at $4,296,846.33. This represents a 2.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

E.W. Scripps Trading Up 5.1%

NASDAQ:SSP opened at $4.11 on Thursday. The company has a market capitalization of $364.97 million, a P/E ratio of -2.20 and a beta of 0.54. The company has a current ratio of 1.65, a quick ratio of 1.61 and a debt-to-equity ratio of 3.13. E.W. Scripps Company has a 12 month low of $1.36 and a 12 month high of $4.98. The firm has a fifty day simple moving average of $3.65 and a 200-day simple moving average of $3.36.

E.W. Scripps (NASDAQ:SSP) last issued its earnings results on Wednesday, February 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.52). E.W. Scripps had a negative return on equity of 0.27% and a negative net margin of 4.69%.The firm had revenue of $560.26 million during the quarter, compared to analysts’ expectations of $550.82 million. On average, equities research analysts anticipate that E.W. Scripps Company will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

SSP has been the subject of several research reports. Benchmark lifted their price objective on shares of E.W. Scripps from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d+)” rating on shares of E.W. Scripps in a research report on Monday, December 22nd. Wells Fargo & Company upped their price target on shares of E.W. Scripps from $3.00 to $3.90 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. Finally, Zacks Research lowered E.W. Scripps from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $6.95.

Institutional Trading of E.W. Scripps

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Penn Capital Management Company LLC boosted its holdings in E.W. Scripps by 151.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 3,599,606 shares of the company’s stock worth $8,864,000 after buying an additional 2,169,640 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of E.W. Scripps by 142.3% during the third 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. Russell Investments Group Ltd. raised its stake in E.W. Scripps by 886.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,280,898 shares of the company’s stock valued at $3,151,000 after purchasing an additional 1,151,092 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in E.W. Scripps by 22.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,722,317 shares of the company’s stock valued at $18,842,000 after purchasing an additional 871,159 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in E.W. Scripps by 82.5% during the 4th quarter. Federated Hermes Inc. now owns 815,751 shares of the company’s stock worth $3,255,000 after purchasing an additional 368,852 shares during the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

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.