Dimensional Fund Advisors LP Boosts Stake in E.W. Scripps Co. (SSP)
Dimensional Fund Advisors LP raised its position in E.W. Scripps Co. (NYSE:SSP) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,498,106 shares of the company’s stock after buying an additional 56,936 shares during the period. Dimensional Fund Advisors LP owned 6.56% of E.W. Scripps worth $87,091,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Sentry Investment Management LLC raised its position in E.W. Scripps by 9.8% in the first quarter. Sentry Investment Management LLC now owns 97,558 shares of the company’s stock worth $1,521,000 after buying an additional 8,700 shares during the period. Kennedy Capital Management Inc. raised its position in E.W. Scripps by 14.8% in the first quarter. Kennedy Capital Management Inc. now owns 1,099,579 shares of the company’s stock worth $17,142,000 after buying an additional 141,979 shares during the period. LPL Financial LLC raised its position in E.W. Scripps by 19.3% in the first quarter. LPL Financial LLC now owns 18,220 shares of the company’s stock worth $271,000 after buying an additional 2,946 shares during the period. Arizona State Retirement System raised its position in E.W. Scripps by 3.0% in the first quarter. Arizona State Retirement System now owns 27,358 shares of the company’s stock worth $427,000 after buying an additional 800 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in E.W. Scripps by 1.2% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 683,711 shares of the company’s stock worth $10,830,000 after buying an additional 7,840 shares during the period. Institutional investors and hedge funds own 75.15% of the company’s stock.
E.W. Scripps Co. (NYSE:SSP) traded up 1.75% on Friday, hitting $15.66. The stock had a trading volume of 108,926 shares. The stock has a 50-day moving average of $16.52 and a 200-day moving average of $16.39. E.W. Scripps Co. has a one year low of $14.52 and a one year high of $22.91. The company’s market cap is $1.31 billion.
E.W. Scripps (NYSE:SSP) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. The firm earned $228 million during the quarter, compared to the consensus estimate of $198.13 million. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) EPS. Equities analysts expect that E.W. Scripps Co. will post $1.10 earnings per share for the current fiscal year.
SSP has been the topic of a number of analyst reports. Noble Financial reiterated a “buy” rating and issued a $25.00 price objective on shares of E.W. Scripps in a research report on Wednesday, June 8th. Zacks Investment Research upgraded shares of E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Saturday, July 9th. Finally, Jefferies Group reiterated a “hold” rating on shares of E.W. Scripps in a research report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. E.W. Scripps has an average rating of “Buy” and a consensus target price of C$22.33.
About E.W. Scripps
The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company operates through segments, including television, radio, digital, and syndication and other. It serves audiences and businesses through a portfolio of television, radio and digital media brands.
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