The E.W. Scripps Company (NASDAQ:SSP) Holdings Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 63.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 623,899 shares of the company's stock after selling 1,073,322 shares during the quarter. Assenagon Asset Management S.A. owned 0.72% of E.W. Scripps worth $1,379,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. purchased a new stake in E.W. Scripps in the 2nd quarter worth $38,000. Vanguard Personalized Indexing Management LLC purchased a new stake in E.W. Scripps during the second quarter valued at $39,000. Diversified Trust Co bought a new position in shares of E.W. Scripps in the 3rd quarter valued at about $42,000. Point72 DIFC Ltd bought a new stake in shares of E.W. Scripps in the 2nd quarter valued at approximately $56,000. Finally, Mackenzie Financial Corp purchased a new position in E.W. Scripps during the second quarter worth $64,000. Hedge funds and other institutional investors own 67.81% of the company's stock.

E.W. Scripps Trading Down 4.3 %

E.W. Scripps stock traded down $0.10 during trading on Friday, hitting $2.24. The company had a trading volume of 256,626 shares, compared to its average volume of 452,055. The company's 50 day simple moving average is $2.15 and its 200-day simple moving average is $2.39. The E.W. Scripps Company has a 1-year low of $1.68 and a 1-year high of $9.35. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41. The stock has a market cap of $193.45 million, a price-to-earnings ratio of -0.72 and a beta of 1.48.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. The company had revenue of $646.30 million for the quarter, compared to analysts' expectations of $634.01 million. During the same quarter in the prior year, the firm posted ($0.15) EPS. As a group, analysts expect that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SSP. Benchmark decreased their price target on shares of E.W. Scripps from $11.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. StockNews.com raised E.W. Scripps from a "sell" rating to a "hold" rating in a research report on Monday, November 11th.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.