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.
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.
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