Barclays PLC Purchases 394,580 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Barclays PLC increased its holdings in The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 1,643.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,588 shares of the company's stock after purchasing an additional 394,580 shares during the quarter. Barclays PLC owned 0.49% of E.W. Scripps worth $941,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Minerva Advisors LLC boosted its holdings in shares of E.W. Scripps by 48.5% in the third quarter. Minerva Advisors LLC now owns 1,192,441 shares of the company's stock worth $2,671,000 after buying an additional 389,481 shares during the period. GSA Capital Partners LLP lifted its position in shares of E.W. Scripps by 1,335.9% in the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company's stock valued at $1,375,000 after acquiring an additional 569,720 shares in the last quarter. Wittenberg Investment Management Inc. boosted its stake in E.W. Scripps by 52.5% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,646,239 shares of the company's stock worth $3,696,000 after purchasing an additional 566,717 shares during the period. AQR Capital Management LLC grew its position in E.W. Scripps by 1,154.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company's stock worth $7,550,000 after purchasing an additional 2,212,959 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in E.W. Scripps during the 2nd quarter valued at $1,833,000. 67.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

E.W. Scripps Stock Up 10.0 %

SSP traded up $0.20 during trading on Tuesday, reaching $2.21. 1,196,440 shares of the stock traded hands, compared to its average volume of 861,553. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The E.W. Scripps Company has a fifty-two week low of $1.68 and a fifty-two week high of $9.35. The stock's 50-day simple moving average is $2.21 and its two-hundred day simple moving average is $2.43. The stock has a market cap of $190.86 million, a price-to-earnings ratio of -0.71 and a beta of 1.52.

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 negative net margin of 8.55% and a positive return on equity of 9.40%. The business had revenue of $646.30 million for the quarter, compared to the consensus estimate of $634.01 million. During the same period in the previous year, the business posted ($0.15) EPS. As a group, equities research analysts expect that The E.W. Scripps Company will post 1.07 EPS for the current year.

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.