142,132 Shares in E.W. Scripps Company (The) $SSP Purchased by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management purchased 142,132 shares of E.W. Scripps Company for approximately $418,000, representing about 0.16% of the company's stock.
• E.W. Scripps reported a quarterly earnings miss, with a loss of ($0.12) earnings per share, falling short of analysts' estimates.
• Recent analyst ratings for E.W. Scripps include a downgrade by Wells Fargo from a price target of $4.00 to $3.00 and a "sell" rating from Weiss Ratings.

Ritholtz Wealth Management purchased a new position in E.W. Scripps Company (The) (NASDAQ:SSP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 142,132 shares of the company's stock, valued at approximately $418,000. Ritholtz Wealth Management owned approximately 0.16% of E.W. Scripps at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of E.W. Scripps by 111.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,931 shares of the company's stock valued at $26,000 after purchasing an additional 4,715 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of E.W. Scripps during the first quarter valued at $44,000. Kathmere Capital Management LLC bought a new position in shares of E.W. Scripps during the second quarter valued at $44,000. Chicago Partners Investment Group LLC bought a new position in shares of E.W. Scripps during the first quarter valued at $49,000. Finally, MetLife Investment Management LLC bought a new position in shares of E.W. Scripps during the first quarter valued at $110,000. Institutional investors own 67.81% of the company's stock.

E.W. Scripps Stock Down 1.8%

SSP stock opened at $2.17 on Monday. E.W. Scripps Company has a fifty-two week low of $1.36 and a fifty-two week high of $4.17. The business's 50-day moving average is $2.77 and its two-hundred day moving average is $2.71. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $191.68 million, a price-to-earnings ratio of 4.52 and a beta of 1.05.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). E.W. Scripps had a net margin of 4.25% and a return on equity of 17.68%. The firm had revenue of $540.08 million during the quarter, compared to the consensus estimate of $544.17 million. As a group, analysts forecast that E.W. Scripps Company will post 1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SSP. Weiss Ratings reaffirmed a "sell (d)" rating on shares of E.W. Scripps in a report on Wednesday, October 8th. Wells Fargo & Company lowered their price target on E.W. Scripps from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Finally, Wall Street Zen downgraded E.W. Scripps from a "hold" rating to a "sell" rating in a report on Sunday, August 31st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $5.50.

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.

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