E. W. Scripps (NYSE:SSP) major shareholder Charles E. Scripps bought 5,000 shares of the business’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average cost of $17.39 per share, for a total transaction of $86,950.00. Following the purchase, the insider now owns 751,367 shares in the company, valued at approximately $13,066,272.13. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Charles E. Scripps also recently made the following trade(s):

  • On Monday, October 22nd, Charles E. Scripps bought 5,000 shares of E. W. Scripps stock. The stock was acquired at an average cost of $17.82 per share, for a total transaction of $89,100.00.

SSP opened at $17.15 on Thursday. E. W. Scripps has a twelve month low of $10.69 and a twelve month high of $18.44.

E. W. Scripps (NYSE:SSP) last released its quarterly earnings results on Friday, November 9th. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. The firm had revenue of $302.70 million for the quarter, compared to analyst estimates of $292.22 million. E. W. Scripps’s revenue for the quarter was up 51.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 14th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, December 13th.

A number of equities analysts have recently commented on the stock. Stephens set a $15.00 target price on shares of E. W. Scripps and gave the company a “hold” rating in a research note on Tuesday, August 7th. Noble Financial set a $19.00 target price on shares of E. W. Scripps and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of E. W. Scripps in a research note on Thursday, October 18th. Finally, Zacks Investment Research raised shares of E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.80.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC grew its holdings in E. W. Scripps by 50.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 32,433 shares of the company’s stock valued at $535,000 after purchasing an additional 10,808 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in E. W. Scripps by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,581,130 shares of the company’s stock valued at $42,588,000 after purchasing an additional 65,986 shares in the last quarter. Lenox Wealth Management Inc. grew its holdings in E. W. Scripps by 23.3% during the 3rd quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock valued at $1,381,000 after purchasing an additional 15,788 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in E. W. Scripps by 19.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock valued at $1,422,000 after purchasing an additional 17,580 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in E. W. Scripps by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 118,693 shares of the company’s stock valued at $1,589,000 after purchasing an additional 6,476 shares in the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

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About E. W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

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