Bank of New York Mellon Corp Raises Holdings in The E.W. Scripps Company (NASDAQ:SSP)

Bank of New York Mellon Corp grew its stake in shares of The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 55.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 299,016 shares of the company's stock after acquiring an additional 106,220 shares during the period. Bank of New York Mellon Corp owned about 0.35% of E.W. Scripps worth $661,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Barclays PLC boosted its position in E.W. Scripps by 1,643.5% during the third quarter. Barclays PLC now owns 418,588 shares of the company's stock worth $941,000 after purchasing an additional 394,580 shares during the period. Foster & Motley Inc. purchased a new position in shares of E.W. Scripps in the fourth quarter valued at $75,000. MassMutual Private Wealth & Trust FSB purchased a new position in E.W. Scripps during the fourth quarter valued at approximately $320,000. BNP Paribas Financial Markets lifted its stake in E.W. Scripps by 16.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,257 shares of the company's stock worth $117,000 after purchasing an additional 7,460 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in E.W. Scripps by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,442,144 shares of the company's stock valued at $3,238,000 after purchasing an additional 51,289 shares during the period. Hedge funds and other institutional investors own 67.81% of the company's stock.

E.W. Scripps Price Performance

Shares of SSP stock traded down $0.16 during trading on Friday, hitting $3.14. The company had a trading volume of 1,924,259 shares, compared to its average volume of 976,195. The stock's 50-day moving average is $2.13 and its two-hundred day moving average is $2.21. The stock has a market capitalization of $272.24 million, a price-to-earnings ratio of -1.01 and a beta of 1.54. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41. The E.W. Scripps Company has a 52 week low of $1.36 and a 52 week high of $4.65.

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Wall Street Analyst Weigh In

Separately, Benchmark upped their price target on shares of E.W. Scripps from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, March 13th.

E.W. Scripps Company Profile

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.