E.W. Scripps (NASDAQ:SSP) Price Target Raised to $8.00

E.W. Scripps (NASDAQ:SSP - Get Free Report) had its price objective hoisted by analysts at Benchmark from $7.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price target suggests a potential upside of 190.38% from the stock's previous close.

E.W. Scripps Price Performance

Shares of NASDAQ SSP traded up $0.71 during trading hours on Thursday, reaching $2.76. 5,240,616 shares of the stock traded hands, compared to its average volume of 920,917. The company's 50-day simple moving average is $1.97 and its two-hundred day simple moving average is $2.12. The company has a market capitalization of $237.93 million, a P/E ratio of -0.89 and a beta of 1.54. E.W. Scripps has a 52-week low of $1.36 and a 52-week high of $4.65. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41.

Institutional Investors Weigh In On E.W. Scripps

A number of institutional investors have recently made changes to their positions in SSP. Wittenberg Investment Management Inc. lifted its stake in E.W. Scripps by 8.4% in the fourth quarter. Wittenberg Investment Management Inc. now owns 1,784,139 shares of the company's stock worth $3,943,000 after purchasing an additional 137,900 shares during the last quarter. Millennium Management LLC boosted its holdings in E.W. Scripps by 7.7% during the 4th quarter. Millennium Management LLC now owns 1,724,192 shares of the company's stock valued at $3,810,000 after acquiring an additional 123,663 shares during the period. Geode Capital Management LLC grew its position in E.W. Scripps by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,468,827 shares of the company's stock worth $3,247,000 after acquiring an additional 26,683 shares during the last quarter. Minerva Advisors LLC increased its stake in E.W. Scripps by 48.5% in the 3rd quarter. Minerva Advisors LLC now owns 1,192,441 shares of the company's stock worth $2,671,000 after purchasing an additional 389,481 shares during the period. Finally, Marshall Wace LLP increased its stake in E.W. Scripps by 112.5% in the 4th quarter. Marshall Wace LLP now owns 1,055,343 shares of the company's stock worth $2,332,000 after purchasing an additional 558,818 shares during the period. Hedge funds and other institutional investors own 67.81% of the company's stock.

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.

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