Scripps Networks Interactive Inc. (SNI) Short Interest Up 12.0% in August
Scripps Networks Interactive Inc. (NASDAQ:SNI) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 12,321,193 shares, an increase of 12.0% from the August 15th total of 11,004,083 shares. Currently, 15.3% of the company’s shares are short sold. Based on an average trading volume of 737,349 shares, the short-interest ratio is presently 16.7 days.
Shares of Scripps Networks Interactive (NASDAQ:SNI) opened at 59.82 on Thursday. The firm has a market capitalization of $7.72 billion, a P/E ratio of 10.15 and a beta of 1.24. The stock’s 50 day moving average is $63.28 and its 200 day moving average is $64.09. Scripps Networks Interactive has a 1-year low of $47.62 and a 1-year high of $68.44.
Scripps Networks Interactive (NASDAQ:SNI) last issued its earnings results on Tuesday, August 9th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Scripps Networks Interactive had a net margin of 22.91% and a return on equity of 35.33%. The business earned $892.80 million during the quarter, compared to analysts’ expectations of $893.46 million. During the same quarter in the prior year, the business posted $1.47 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Equities analysts predict that Scripps Networks Interactive will post $5.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, August 29th. Scripps Networks Interactive’s dividend payout ratio (DPR) is presently 16.98%.
In related news, major shareholder Cynthia J. Scripps sold 95,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $63.17, for a total value of $6,001,150.00. Following the sale, the insider now directly owns 65,706 shares of the company’s stock, valued at approximately $4,150,648.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Julia Scripps Heidt sold 152,863 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $60.44, for a total transaction of $9,239,039.72. Following the completion of the sale, the insider now directly owns 208,766 shares in the company, valued at $12,617,817.04. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Scripps Networks Interactive by 2,097.4% in the second quarter. Boston Partners now owns 1,407,636 shares of the company’s stock valued at $87,653,000 after buying an additional 1,343,577 shares during the period. Schroder Investment Management Group increased its position in shares of Scripps Networks Interactive by 95.2% in the second quarter. Schroder Investment Management Group now owns 2,148,028 shares of the company’s stock worth $133,758,000 after buying an additional 1,047,600 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Scripps Networks Interactive during the first quarter worth about $47,515,000. Norges Bank bought a new position in shares of Scripps Networks Interactive during the fourth quarter worth about $39,318,000. Finally, Wellington Management Group LLP increased its position in shares of Scripps Networks Interactive by 144.7% in the first quarter. Wellington Management Group LLP now owns 1,068,220 shares of the company’s stock worth $69,969,000 after buying an additional 631,753 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.
SNI has been the topic of a number of recent analyst reports. Jefferies Group reissued a “hold” rating and issued a $69.00 price objective on shares of Scripps Networks Interactive in a research report on Saturday, June 25th. Citigroup Inc. reduced their target price on shares of Scripps Networks Interactive from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Scripps Networks Interactive in a research report on Friday, June 17th. Evercore ISI lowered shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a research report on Wednesday, August 10th. Finally, MKM Partners reaffirmed a “hold” rating on shares of Scripps Networks Interactive in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $69.73.
About Scripps Networks Interactive
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for linear and interactive video platforms, including television and the Internet brands. The Company’s segments include U.S. Networks, International Networks, and Corporate and Other. Its U.S. Networks segment includes its approximately six national television networks: HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country.
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