Jane Street Group LLC Trims Stake in The E.W. Scripps Company (NASDAQ:SSP)

Jane Street Group LLC reduced its position in The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 69.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,183 shares of the company's stock after selling 443,560 shares during the quarter. Jane Street Group LLC owned 0.23% of E.W. Scripps worth $438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Two Sigma Securities LLC grew its position in shares of E.W. Scripps by 32.9% in the 4th quarter. Two Sigma Securities LLC now owns 23,489 shares of the company's stock worth $52,000 after buying an additional 5,811 shares during the last quarter. Victory Capital Management Inc. raised its holdings in E.W. Scripps by 3.3% in the fourth quarter. Victory Capital Management Inc. now owns 211,740 shares of the company's stock worth $468,000 after buying an additional 6,840 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of E.W. Scripps by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 36,592 shares of the company's stock worth $81,000 after purchasing an additional 7,418 shares during the last quarter. Tower Research Capital LLC TRC raised 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 worth $30,000 after buying an additional 7,927 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of E.W. Scripps during the 4th quarter valued at about $25,000. 67.81% of the stock is currently owned by institutional investors.

E.W. Scripps Stock Down 2.8%

Shares of SSP traded down $0.07 during mid-day trading on Wednesday, hitting $2.29. The company's stock had a trading volume of 52,933 shares, compared to its average volume of 880,046. The firm has a market capitalization of $200.42 million, a price-to-earnings ratio of -0.73 and a beta of 1.01. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41. The company's 50-day moving average is $2.32 and its 200-day moving average is $2.19. The E.W. Scripps Company has a 52-week low of $1.36 and a 52-week high of $4.06.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.05. E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. The company had revenue of $524.39 million during the quarter, compared to analyst estimates of $520.04 million. On average, equities research analysts forecast that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Benchmark increased their price objective on shares of E.W. Scripps from $7.00 to $8.00 and gave the company a "buy" rating in a report on Thursday, March 13th.

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.