Patton Albertson Miller Group LLC cut its stake in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,923 shares of the company’s stock after selling 2,020 shares during the period. Patton Albertson Miller Group LLC’s holdings in Scripps Networks Interactive were worth $1,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SNI. Clark Estates Inc. NY boosted its stake in shares of Scripps Networks Interactive by 731.7% in the second quarter. Clark Estates Inc. NY now owns 341,000 shares of the company’s stock valued at $23,294,000 after buying an additional 300,000 shares during the period. Arizona State Retirement System boosted its stake in shares of Scripps Networks Interactive by 0.8% in the second quarter. Arizona State Retirement System now owns 23,806 shares of the company’s stock valued at $1,626,000 after buying an additional 200 shares during the period. Boston Partners boosted its stake in shares of Scripps Networks Interactive by 22.7% in the second quarter. Boston Partners now owns 1,234,891 shares of the company’s stock valued at $84,356,000 after buying an additional 228,349 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Scripps Networks Interactive by 17.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 500,910 shares of the company’s stock valued at $34,218,000 after buying an additional 73,006 shares during the period. Finally, Pioneer Investment Management Inc. boosted its stake in shares of Scripps Networks Interactive by 20.9% in the second quarter. Pioneer Investment Management Inc. now owns 2,288,068 shares of the company’s stock valued at $156,298,000 after buying an additional 396,253 shares during the period. 70.48% of the stock is owned by institutional investors and hedge funds.

Shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) opened at 86.83 on Friday. The firm’s 50-day moving average is $76.01 and its 200-day moving average is $74.59. Scripps Networks Interactive, Inc has a 12-month low of $59.32 and a 12-month high of $88.45. The firm has a market cap of $11.27 billion, a PE ratio of 17.92 and a beta of 1.49.

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Several brokerages recently weighed in on SNI. UBS AG reaffirmed a “neutral” rating and issued a $90.00 target price (up previously from $83.00) on shares of Scripps Networks Interactive in a report on Tuesday, August 1st. Needham & Company LLC cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Moffett Nathanson raised shares of Scripps Networks Interactive from a “sell” rating to a “neutral” rating and raised their target price for the company from $61.00 to $87.00 in a report on Monday, July 31st. Citigroup Inc. raised shares of Scripps Networks Interactive from a “sell” rating to a “neutral” rating and raised their target price for the company from $66.00 to $90.00 in a report on Tuesday, August 1st. Finally, Argus cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $83.50.

In other news, major shareholder Edward W. Scripps sold 300,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $66.96, for a total transaction of $20,088,000.00. Following the completion of the transaction, the insider now directly owns 232,071 shares in the company, valued at approximately $15,539,474.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey Sagansky sold 1,159 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $87.83, for a total value of $101,794.97. Following the sale, the director now directly owns 9,457 shares in the company, valued at $830,608.31. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Scripps Networks Interactive Company Profile

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.

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Institutional Ownership by Quarter for Scripps Networks Interactive (NASDAQ:SNI)

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