Jane Street Group LLC Sells 443,560 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Jane Street Group LLC lowered its position in The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 69.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Two Sigma Securities LLC grew its holdings in E.W. Scripps by 32.9% during the 4th quarter. Two Sigma Securities LLC now owns 23,489 shares of the company's stock worth $52,000 after acquiring an additional 5,811 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of E.W. Scripps by 3.3% during the fourth quarter. Victory Capital Management Inc. now owns 211,740 shares of the company's stock worth $468,000 after purchasing an additional 6,840 shares during the period. Wells Fargo & Company MN grew 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 increased its holdings in E.W. Scripps by 137.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company's stock valued at $30,000 after purchasing an additional 7,927 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in E.W. Scripps in the fourth quarter valued at $25,000. Institutional investors own 67.81% of the company's stock.

Analysts Set New Price Targets

Separately, Benchmark lifted their target price on E.W. Scripps from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, March 13th.

E.W. Scripps Trading Down 9.4%

SSP stock traded down $0.22 during trading on Wednesday, hitting $2.13. The company had a trading volume of 708,404 shares, compared to its average volume of 880,777. The stock has a market cap of $186.82 million, a PE ratio of -0.69 and a beta of 1.02. The business has a 50-day moving average of $2.30 and a 200-day moving average of $2.19. 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 E.W. Scripps Company has a one year low of $1.36 and a one year high of $4.06.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last issued its quarterly 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 negative net margin of 8.55% and a positive return on equity of 9.40%. The firm had revenue of $524.39 million for the quarter, compared to the consensus estimate of $520.04 million. Research analysts predict that The E.W. Scripps Company will post 1.07 earnings per share for the current fiscal year.

E.W. Scripps 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.