AQR Capital Management LLC Has $7.55 Million Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

AQR Capital Management LLC grew its stake in The E.W. Scripps Company (NASDAQ:SSP) by 1,154.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,404,607 shares of the company’s stock after purchasing an additional 2,212,959 shares during the period. AQR Capital Management LLC owned approximately 2.82% of E.W. Scripps worth $7,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Teton Advisors Inc. boosted its holdings in E.W. Scripps by 0.8% during the first quarter. Teton Advisors Inc. now owns 342,600 shares of the company’s stock worth $1,346,000 after buying an additional 2,800 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of E.W. Scripps by 0.9% during the first quarter. Pinnacle Associates Ltd. now owns 319,414 shares of the company’s stock worth $1,255,000 after purchasing an additional 2,858 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of E.W. Scripps by 229.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,761 shares of the company’s stock valued at $86,000 after buying an additional 7,496 shares during the period. Russell Investments Group Ltd. raised its stake in E.W. Scripps by 19.6% during the 1st quarter. Russell Investments Group Ltd. now owns 53,382 shares of the company’s stock worth $210,000 after buying an additional 8,745 shares during the period. Finally, SageView Advisory Group LLC bought a new position in E.W. Scripps during the fourth quarter worth about $82,000. 67.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on SSP. Benchmark dropped their target price on shares of E.W. Scripps from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, August 12th. StockNews.com lowered shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th.

E.W. Scripps Stock Performance

NASDAQ SSP opened at $2.42 on Friday. The stock has a market cap of $206.64 million, a PE ratio of -0.21 and a beta of 1.74. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a 50-day moving average of $2.29 and a 200-day moving average of $2.90. The E.W. Scripps Company has a 52-week low of $1.68 and a 52-week high of $9.35.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). E.W. Scripps had a negative net margin of 11.06% and a positive return on equity of 2.94%. The business had revenue of $573.63 million during the quarter, compared to analyst estimates of $586.65 million. During the same quarter last year, the company posted ($0.09) earnings per share. On average, sell-side analysts anticipate that The E.W. Scripps Company will post 0.75 EPS for the current year.

E.W. Scripps Company Profile

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.