Sei Investments Co. Acquires 370,260 Shares of E.W. Scripps Company (The) $SSP

Key Points

• Sei Investments increased its E.W. Scripps holdings by 174.7% in the first quarter, buying 370,260 additional shares and bringing its total to 582,224 shares, worth approximately $2.17 million.
• Scripps reported a second-quarter loss of $0.34 per share, better than the expected $0.53 loss, but revenue of $490.4 million missed estimates and the company remained unprofitable. Management is targeting $100 million in annualized cost savings while cutting roughly 12% of its workforce and expanding AI and streaming initiatives.
• The stock trades near $3.32, while analysts maintain a consensus “Hold” rating with a $5.95 target price; meanwhile, insiders have sold more than 326,000 shares over the past 90 days.

Sei Investments Co. increased its holdings in E.W. Scripps Company (The) (NASDAQ:SSP - Free Report) by 174.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 582,224 shares of the company's stock after buying an additional 370,260 shares during the quarter. Sei Investments Co. owned about 0.65% of E.W. Scripps worth $2,166,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Franklin Resources Inc. bought a new position in E.W. Scripps during the 3rd quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of E.W. Scripps by 67.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 14,923 shares of the company's stock valued at $37,000 after acquiring an additional 5,992 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of E.W. Scripps in the third quarter worth approximately $42,000. NewEdge Advisors LLC bought a new stake in shares of E.W. Scripps in the third quarter worth approximately $42,000. Finally, Oxford Asset Management LLP purchased a new position in shares of E.W. Scripps during the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 67.81% of the company's stock.

Trending Headlines about E.W. Scripps

Here are the key news stories impacting E.W. Scripps this week:

• Positive Sentiment: Scripps said it is targeting $100 million in annualized cost savings by year-end, a plan that could improve profitability and cash flow as the company restructures its local television operations. Scripps targets $100 million in annual run-rate savings
• Positive Sentiment: Management forecast approximately $225 million to $250 million in political advertising revenue, providing an important potential boost during the 2026 election cycle. Political advertising and savings outlook
• Positive Sentiment: Second-quarter adjusted results were viewed as better than feared in some estimates: Scripps reported a loss of $0.34 per share, compared with a consensus estimate of a $0.53 loss in one widely followed estimate. Management also highlighted artificial intelligence and a 24-hour streaming-news model as opportunities to reduce operating costs and expand content distribution. Scripps reports second-quarter financial results
• Neutral Sentiment: The company is implementing a transformation plan centered on AI-enabled local news production and streaming. The strategy could improve efficiency, but its effect on audience growth and long-term revenue remains unproven. Scripps layoffs and AI strategy
• Negative Sentiment: Second-quarter revenue was $490.4 million, below the approximately $511.7 million consensus estimate, while the company remained unprofitable. Some estimates also showed the per-share loss was worse than expected, underscoring continued earnings pressure. Scripps reports second-quarter loss
• Negative Sentiment: Scripps has cut roughly 12% of its workforce, primarily at local television stations. The layoffs may support the savings target but also highlight significant pressure on the traditional television business and execution risk from the restructuring. Scripps workforce reductions

Insider Activity

In other news, major shareholder Molly E. Mccabe sold 11,239 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.29, for a total transaction of $36,976.31. Following the completion of the sale, the insider owned 266,493 shares of the company's stock, valued at $876,761.97. The trade was a 4.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 326,675 shares of company stock worth $1,117,887. Insiders own 5.24% of the company's stock.

E.W. Scripps Price Performance

Shares of NASDAQ:SSP opened at $3.32 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 3.08. The stock has a market capitalization of $303.91 million, a PE ratio of -0.24 and a beta of 0.65. The firm's 50 day moving average price is $3.03 and its 200-day moving average price is $3.57. E.W. Scripps Company has a twelve month low of $2.02 and a twelve month high of $5.39.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.19. E.W. Scripps had a negative net margin of 58.02% and a negative return on equity of 3.00%. The company had revenue of $490.40 million during the quarter, compared to analyst estimates of $511.65 million. Equities research analysts expect that E.W. Scripps Company will post 0.22 EPS for the current year.

Analyst Ratings Changes

SSP has been the topic of a number of research analyst reports. Benchmark lowered their price objective on shares of E.W. Scripps from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Zacks Research upgraded shares of E.W. Scripps from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded shares of E.W. Scripps to a "hold" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of E.W. Scripps in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $5.95.

E.W. Scripps Company Profile

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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