Dimensional Fund Advisors LP Cuts Holdings in The E.W. Scripps Company (NASDAQ:SSP)

Dimensional Fund Advisors LP decreased its position in The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,401,322 shares of the company's stock after selling 256,312 shares during the period. Dimensional Fund Advisors LP owned 3.94% of E.W. Scripps worth $7,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Heron Bay Capital Management bought a new stake in E.W. Scripps in the 4th quarter valued at $25,000. WINTON GROUP Ltd bought a new position in shares of E.W. Scripps during the fourth quarter worth about $30,000. Virtu Financial LLC acquired a new stake in E.W. Scripps during the fourth quarter worth approximately $35,000. Pitcairn Co. acquired a new stake in E.W. Scripps during the fourth quarter worth approximately $41,000. Finally, Ieq Capital LLC acquired a new stake in E.W. Scripps in the fourth quarter valued at approximately $45,000. Institutional investors own 67.81% of the company's stock.

E.W. Scripps Stock Up 1.1%

Shares of NASDAQ:SSP traded up $0.03 during mid-day trading on Friday, hitting $2.38. 229,833 shares of the company traded hands, compared to its average volume of 1,084,359. The stock has a market cap of $205.91 million, a P/E ratio of -0.77 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 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 $2.47 and a two-hundred day moving average price of $2.21.

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

Analyst Upgrades and Downgrades

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

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.