WESCAP Management Group Inc. Trims Holdings in Scripps Networks Interactive, Inc (SNI)
WESCAP Management Group Inc. reduced its position in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,061 shares of the company’s stock after selling 1,037 shares during the quarter. Scripps Networks Interactive comprises about 0.9% of WESCAP Management Group Inc.’s portfolio, making the stock its 28th biggest position. WESCAP Management Group Inc.’s holdings in Scripps Networks Interactive were worth $1,981,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Amalgamated Bank grew its stake in Scripps Networks Interactive by 56.5% during the 2nd quarter. Amalgamated Bank now owns 10,074 shares of the company’s stock worth $688,000 after buying an additional 3,638 shares during the last quarter. LMR Partners LLP acquired a new stake in Scripps Networks Interactive during the 2nd quarter worth about $1,380,000. Schwab Charles Investment Management Inc. lifted its position in Scripps Networks Interactive by 17.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 500,910 shares of the company’s stock worth $34,218,000 after acquiring an additional 73,006 shares during the period. Swiss National Bank lifted its position in Scripps Networks Interactive by 9.1% during the 2nd quarter. Swiss National Bank now owns 312,861 shares of the company’s stock worth $21,372,000 after acquiring an additional 26,000 shares during the period. Finally, P Schoenfeld Asset Management LP acquired a new stake in Scripps Networks Interactive during the 3rd quarter worth about $12,884,000. Institutional investors and hedge funds own 63.88% of the company’s stock.
In other news, Director Jeffrey Sagansky sold 1,077 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $79.61, for a total value of $85,739.97. Following the sale, the director now directly owns 7,520 shares in the company, valued at $598,667.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by company insiders.
Several brokerages have recently issued reports on SNI. BidaskClub cut Scripps Networks Interactive from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Zacks Investment Research raised Scripps Networks Interactive from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Royal Bank Of Canada set a $90.00 price objective on Scripps Networks Interactive and gave the company a “hold” rating in a report on Friday, October 20th. KeyCorp reaffirmed a “hold” rating on shares of Scripps Networks Interactive in a report on Friday, August 25th. Finally, Morgan Stanley upped their price target on Scripps Networks Interactive from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Scripps Networks Interactive presently has an average rating of “Hold” and a consensus target price of $85.62.
Scripps Networks Interactive, Inc (NASDAQ SNI) traded down $0.32 during trading hours on Tuesday, reaching $80.30. The company’s stock had a trading volume of 1,274,400 shares, compared to its average volume of 1,661,238. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.90. Scripps Networks Interactive, Inc has a one year low of $64.87 and a one year high of $88.45. The firm has a market capitalization of $10,400.00, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.04 and a beta of 1.47.
Scripps Networks Interactive (NASDAQ:SNI) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Scripps Networks Interactive had a return on equity of 27.04% and a net margin of 17.46%. The company had revenue of $825.53 million for the quarter, compared to analysts’ expectations of $838.63 million. During the same period in the prior year, the firm earned $1.26 earnings per share. equities analysts predict that Scripps Networks Interactive, Inc will post 5.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, November 29th. Scripps Networks Interactive’s dividend payout ratio (DPR) is 18.20%.
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About Scripps Networks Interactive
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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