Minerva Advisors LLC Increases Stock Holdings in E.W. Scripps Company (The) (NASDAQ:SSP)

Key Points

• Minerva Advisors LLC has increased its holdings in E.W. Scripps Company by 7.9%, owning 1,259,842 shares after purchasing an additional 92,000 shares.
• E.W. Scripps reported earnings of ($0.18) EPS for the last quarter, exceeding the consensus estimate of ($0.23) by $0.05 and generating revenue of $524.39 million.
• Wells Fargo has raised its price target for E.W. Scripps from $2.80 to $4.00, while Wall Street Zen downgraded the stock rating from "hold" to "sell."

Minerva Advisors LLC increased its holdings in shares of E.W. Scripps Company (The) (NASDAQ:SSP - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,259,842 shares of the company's stock after acquiring an additional 92,000 shares during the period. E.W. Scripps makes up approximately 2.4% of Minerva Advisors LLC's portfolio, making the stock its 13th biggest holding. Minerva Advisors LLC owned 1.45% of E.W. Scripps worth $3,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP raised its position in shares of E.W. Scripps by 112.5% during the 4th quarter. Marshall Wace LLP now owns 1,055,343 shares of the company's stock worth $2,332,000 after purchasing an additional 558,818 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of E.W. Scripps during the fourth quarter valued at $1,215,000. CastleKnight Management LP boosted its stake in shares of E.W. Scripps by 752.6% during the fourth quarter. CastleKnight Management LP now owns 558,588 shares of the company's stock valued at $1,234,000 after acquiring an additional 493,073 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of E.W. Scripps by 428.7% during the fourth quarter. JPMorgan Chase & Co. now owns 497,862 shares of the company's stock valued at $1,100,000 after acquiring an additional 403,691 shares during the last quarter. Finally, Wittenberg Investment Management Inc. boosted its stake in shares of E.W. Scripps by 8.4% during the fourth quarter. Wittenberg Investment Management Inc. now owns 1,784,139 shares of the company's stock valued at $3,943,000 after acquiring an additional 137,900 shares during the last quarter. Institutional investors and hedge funds own 67.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SSP shares. Wall Street Zen lowered E.W. Scripps from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Wells Fargo & Company increased their price objective on E.W. Scripps from $2.80 to $4.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th.

E.W. Scripps Trading Down 3.0%

NASDAQ:SSP traded down $0.09 during mid-day trading on Friday, reaching $2.90. The company's stock had a trading volume of 533,452 shares, compared to its average volume of 770,004. The company's fifty day simple moving average is $2.98 and its two-hundred day simple moving average is $2.47. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.36 and a quick ratio of 1.36. E.W. Scripps Company has a twelve month low of $1.36 and a twelve month high of $4.17. The stock has a market cap of $254.36 million, a P/E ratio of 3.15 and a beta of 1.01.

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. The firm had revenue of $524.39 million for the quarter, compared to analyst estimates of $520.04 million. E.W. Scripps had a return on equity of 17.81% and a net margin of 5.71%. On average, equities analysts predict that E.W. Scripps Company will post 1.07 EPS for the current year.

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.