Minerva Advisors LLC Grows Stake in The E.W. Scripps Company (NASDAQ:SSP)

Minerva Advisors LLC boosted its stake in shares of The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 48.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,192,441 shares of the company's stock after buying an additional 389,481 shares during the quarter. E.W. Scripps makes up approximately 1.5% of Minerva Advisors LLC's portfolio, making the stock its 20th biggest position. Minerva Advisors LLC owned 1.38% of E.W. Scripps worth $2,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. purchased a new position in shares of E.W. Scripps in the 2nd quarter worth approximately $38,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of E.W. Scripps during the 2nd quarter valued at $39,000. Diversified Trust Co purchased a new position in shares of E.W. Scripps during the 3rd quarter valued at $42,000. CWM LLC raised its stake in shares of E.W. Scripps by 4,620.6% during the 2nd quarter. CWM LLC now owns 14,209 shares of the company's stock valued at $45,000 after purchasing an additional 13,908 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of E.W. Scripps during the 1st quarter valued at $50,000. 67.81% of the stock is owned by institutional investors and hedge funds.

E.W. Scripps Price Performance

Shares of E.W. Scripps stock traded up $0.05 during trading on Tuesday, hitting $1.78. 654,292 shares of the stock traded hands, compared to its average volume of 896,297. 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 stock has a market cap of $153.73 million, a price-to-earnings ratio of -0.57 and a beta of 1.66. The firm's fifty day moving average is $2.33 and its 200-day moving average is $2.64. The E.W. Scripps Company has a 52 week low of $1.68 and a 52 week high of $9.35.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last issued its earnings results 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). The company had revenue of $646.30 million for the quarter, compared to analysts' expectations of $634.01 million. E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Research analysts expect that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Benchmark decreased their price objective 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 upgraded E.W. Scripps from a "sell" rating to a "hold" rating in a research note on Monday, November 11th.

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.