Millennium Management LLC Has $3.81 Million Stake in The E.W. Scripps Company (NASDAQ:SSP)

Millennium Management LLC increased its stake in The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,724,192 shares of the company's stock after buying an additional 123,663 shares during the quarter. Millennium Management LLC owned approximately 2.00% of E.W. Scripps worth $3,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Foster & Motley Inc. bought a new stake in E.W. Scripps in the fourth quarter valued at approximately $75,000. Jefferies Financial Group Inc. bought a new stake in E.W. Scripps in the 4th quarter valued at $291,000. Federated Hermes Inc. lifted its holdings in E.W. Scripps by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 467,596 shares of the company's stock valued at $1,033,000 after purchasing an additional 111,504 shares during the last quarter. Wittenberg Investment Management Inc. boosted its position in 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 worth $3,943,000 after purchasing an additional 137,900 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of E.W. Scripps by 55.1% in the fourth quarter. Bank of New York Mellon Corp now owns 299,016 shares of the company's stock valued at $661,000 after purchasing an additional 106,220 shares during the last quarter. 67.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

E.W. Scripps Stock Performance

Shares of NASDAQ:SSP traded down $0.22 during trading on Wednesday, reaching $2.13. 708,404 shares of the stock were exchanged, compared to its average volume of 880,777. The firm has a market cap of $186.82 million, a PE ratio of -0.69 and a beta of 1.02. 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 12 month low of $1.36 and a 12 month high of $4.06. The stock has a 50-day moving average price of $2.30 and a 200-day moving average price of $2.19.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, beating 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 firm had revenue of $524.39 million for the quarter, compared to analyst estimates of $520.04 million. Research analysts expect that The 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.