Noble Financial Reiterates “Buy” Rating for E. W. Scripps (NYSE:SSP)

Noble Financial reaffirmed their buy rating on shares of E. W. Scripps (NYSE:SSP) in a report issued on Wednesday morning, AnalystRatings.com reports. They currently have a $20.00 price target on the stock.

A number of other research analysts have also commented on the company. Benchmark cut their price target on E. W. Scripps from $25.00 to $24.00 and set a buy rating for the company in a report on Monday, November 11th. Zacks Investment Research upgraded E. W. Scripps from a sell rating to a hold rating in a report on Tuesday, November 5th. Wells Fargo & Co assumed coverage on E. W. Scripps in a report on Monday, September 23rd. They set an outperform rating and a $17.00 price target for the company. Finally, Guggenheim reiterated a neutral rating and set a $14.00 price target (down from $22.00) on shares of E. W. Scripps in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $17.60.

Shares of SSP stock traded up $0.13 during trading hours on Wednesday, reaching $14.37. 268,995 shares of the company’s stock were exchanged, compared to its average volume of 402,993. E. W. Scripps has a fifty-two week low of $11.36 and a fifty-two week high of $23.41. The business has a fifty day moving average price of $13.53 and a 200-day moving average price of $14.77.

In other news, major shareholder Corina S. Granado bought 38,117 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $11.91 per share, for a total transaction of $453,973.47. Following the completion of the purchase, the insider now owns 448,569 shares of the company’s stock, valued at approximately $5,342,456.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.16% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Fund Management S.A. bought a new stake in E. W. Scripps in the second quarter valued at $177,000. Nisa Investment Advisors LLC grew its position in E. W. Scripps by 7.1% in the third quarter. Nisa Investment Advisors LLC now owns 13,500 shares of the company’s stock valued at $179,000 after acquiring an additional 900 shares during the period. Marshall Wace North America L.P. bought a new stake in E. W. Scripps in the second quarter valued at $274,000. Municipal Employees Retirement System of Michigan grew its position in E. W. Scripps by 25.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 20,830 shares of the company’s stock valued at $319,000 after acquiring an additional 4,220 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in E. W. Scripps in the second quarter valued at $472,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

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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Analyst Recommendations for E. W. Scripps (NYSE:SSP)

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