1,417,439 Shares in E.W. Scripps Company (The) $SSP Acquired by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. acquired a new position in shares of E.W. Scripps Company (The) (NASDAQ:SSP) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,417,439 shares of the company’s stock, valued at approximately $5,273,000. Lee Danner & Bass Inc. owned approximately 1.59% of E.W. Scripps as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in E.W. Scripps by 22.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,722,317 shares of the company’s stock valued at $18,842,000 after acquiring an additional 871,159 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of E.W. Scripps by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,671,714 shares of the company’s stock valued at $14,650,000 after purchasing an additional 60,729 shares during the last quarter. Penn Capital Management Company LLC grew its position in shares of E.W. Scripps by 151.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 3,599,606 shares of the company’s stock worth $8,864,000 after buying an additional 2,169,640 shares during the period. Gamco Investors INC. ET AL grew its position in shares of E.W. Scripps by 0.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,442,039 shares of the company’s stock worth $9,744,000 after buying an additional 16,359 shares during the period. Finally, Wittenberg Investment Management Inc. raised its stake in shares of E.W. Scripps by 4.2% during the fourth quarter. Wittenberg Investment Management Inc. now owns 2,310,061 shares of the company’s stock worth $9,217,000 after buying an additional 93,112 shares during the last quarter. 67.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Molly E. Mccabe sold 11,239 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.29, for a total value of $36,976.31. Following the sale, the insider owned 266,493 shares of the company’s stock, valued at $876,761.97. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 326,675 shares of company stock valued at $1,117,887 in the last 90 days. 5.24% of the stock is owned by company insiders.

E.W. Scripps Price Performance

Shares of SSP stock opened at $3.12 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 3.08. E.W. Scripps Company has a 12-month low of $2.02 and a 12-month high of $5.39. The firm has a fifty day moving average of $3.50 and a 200-day moving average of $3.74. The firm has a market capitalization of $285.60 million, a price-to-earnings ratio of -1.69 and a beta of 0.65.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.32. E.W. Scripps had a negative return on equity of 0.56% and a negative net margin of 4.63%.The business had revenue of $516.87 million for the quarter, compared to the consensus estimate of $516.86 million. On average, equities research analysts forecast that E.W. Scripps Company will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SSP has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of E.W. Scripps in a report on Friday, May 29th. Benchmark decreased their price objective on E.W. Scripps from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Zacks Research raised E.W. Scripps from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, E.W. Scripps has a consensus rating of “Hold” and an average price target of $5.95.

E.W. Scripps Profile

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.