E.W. Scripps Company (The) $SSP Stock Position Decreased by Gamco Investors INC. ET AL

Key Points

• Gamco Investors has reduced its holdings in E.W. Scripps Company by 5.0%, selling 142,752 shares during the first quarter and now owning 2,736,553 shares valued at approximately $8.1 million.
• Other investors, including Northwestern Mutual Wealth Management Co. and Group One Trading LLC, have raised their positions significantly in E.W. Scripps, with Group One increasing its stake by 479.9%.
• Despite a recent earnings report where E.W. Scripps missed revenue and EPS estimates, analysts maintain a Moderate Buy average rating for the stock, with a consensus price target of $5.50.

Gamco Investors INC. ET AL reduced its holdings in E.W. Scripps Company (The) (NASDAQ:SSP - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,736,553 shares of the company's stock after selling 142,752 shares during the quarter. Gamco Investors INC. ET AL owned 3.16% of E.W. Scripps worth $8,100,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SSP. The Manufacturers Life Insurance Company acquired a new stake in E.W. Scripps in the 4th quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. increased its position in E.W. Scripps by 111.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,931 shares of the company's stock valued at $26,000 after acquiring an additional 4,715 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in E.W. Scripps in the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC increased its position in E.W. Scripps by 137.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company's stock valued at $30,000 after acquiring an additional 7,927 shares during the period. Finally, Group One Trading LLC increased its position in E.W. Scripps by 479.9% in the 4th quarter. Group One Trading LLC now owns 13,998 shares of the company's stock valued at $31,000 after acquiring an additional 11,584 shares during the period. 67.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on SSP. Wall Street Zen cut E.W. Scripps from a "hold" rating to a "sell" rating in a research report on Sunday. Wells Fargo & Company decreased their price target on E.W. Scripps from $4.00 to $3.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $5.50.

E.W. Scripps Price Performance

NASDAQ SSP traded up $0.02 on Monday, reaching $2.99. 243,222 shares of the stock traded hands, compared to its average volume of 826,583. The firm's fifty day simple moving average is $3.17 and its 200 day simple moving average is $2.61. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.92. The company has a market cap of $264.12 million, a price-to-earnings ratio of 6.23 and a beta of 1.05. E.W. Scripps Company has a 12 month low of $1.36 and a 12 month high of $4.17.

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

E.W. Scripps Company Profile

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.