Victory Capital Management Inc. Increases Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Victory Capital Management Inc. increased its position in The E.W. Scripps Company (NASDAQ:SSP) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 204,900 shares of the company’s stock after acquiring an additional 9,900 shares during the period. Victory Capital Management Inc.’s holdings in E.W. Scripps were worth $460,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in E.W. Scripps by 270.6% in the 2nd quarter. Millennium Management LLC now owns 3,001,601 shares of the company’s stock worth $9,425,000 after acquiring an additional 2,191,666 shares during the last quarter. AQR Capital Management LLC raised its holdings in E.W. Scripps by 1,154.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock worth $7,550,000 after acquiring an additional 2,212,959 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in E.W. Scripps by 1,619.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock worth $6,918,000 after acquiring an additional 2,075,027 shares during the last quarter. Squarepoint Ops LLC raised its holdings in E.W. Scripps by 767.5% in the 2nd quarter. Squarepoint Ops LLC now owns 638,663 shares of the company’s stock worth $2,005,000 after acquiring an additional 565,045 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in E.W. Scripps by 1,335.9% in the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock worth $1,375,000 after acquiring an additional 569,720 shares during the last quarter. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

E.W. Scripps Price Performance

Shares of SSP opened at $2.00 on Friday. The firm has a market cap of $172.72 million, a PE ratio of -0.65 and a beta of 1.66. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41. The firm has a fifty day simple moving average of $2.35 and a two-hundred day simple moving average of $2.53. The E.W. Scripps Company has a 1-year low of $1.68 and a 1-year high of $9.35.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). The company had revenue of $646.30 million for the quarter, compared to analysts’ expectations of $634.01 million. E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. On average, equities analysts anticipate that The E.W. Scripps Company will post 1.07 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Benchmark decreased their price objective on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

About E.W. Scripps

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.