Marshall Wace LLP Invests $723,000 in E. W. Scripps (NYSE:SSP)

Marshall Wace LLP purchased a new position in shares of E. W. Scripps (NYSE:SSP) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,439 shares of the company’s stock, valued at approximately $723,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Litespeed Management L.L.C. increased its position in shares of E. W. Scripps by 30.6% in the fourth quarter. Litespeed Management L.L.C. now owns 566,341 shares of the company’s stock worth $8,909,000 after purchasing an additional 132,812 shares during the period. Geode Capital Management LLC increased its position in shares of E. W. Scripps by 9.7% in the fourth quarter. Geode Capital Management LLC now owns 564,351 shares of the company’s stock worth $8,877,000 after purchasing an additional 49,819 shares during the period. California Public Employees Retirement System increased its position in shares of E. W. Scripps by 8.0% in the fourth quarter. California Public Employees Retirement System now owns 124,083 shares of the company’s stock worth $1,952,000 after purchasing an additional 9,227 shares during the period. Norges Bank bought a new position in shares of E. W. Scripps in the fourth quarter worth $1,350,000. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of E. W. Scripps in the fourth quarter worth $337,000. 77.70% of the stock is owned by institutional investors.

A number of research analysts have issued reports on the company. Noble Financial reiterated a “buy” rating and issued a $25.00 target price on shares of E. W. Scripps in a research report on Wednesday, May 15th. Zacks Investment Research cut Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $21.75.

Shares of SSP stock remained flat at $$15.02 during mid-day trading on Friday. The stock had a trading volume of 264,815 shares, compared to its average volume of 431,053. The business has a fifty day simple moving average of $15.16. E. W. Scripps has a 12-month low of $12.44 and a 12-month high of $23.41.

E. W. Scripps (NYSE:SSP) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.02. The company had revenue of $292.20 million during the quarter, compared to analyst estimates of $288.81 million. E. W. Scripps’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Friday, June 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, June 13th.

In other E. W. Scripps news, major shareholder William H. Scripps sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $16.11, for a total value of $1,288,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lisa A. Knutson sold 4,406 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $21.41, for a total value of $94,332.46. Following the completion of the sale, the chief financial officer now directly owns 39,794 shares of the company’s stock, valued at approximately $851,989.54. The disclosure for this sale can be found here. 4.16% of the stock is currently owned by corporate insiders.

About E. W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

Further Reading: Dividend Achievers

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

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