The E.W. Scripps Company (NASDAQ:SSP) Short Interest Update

The E.W. Scripps Company (NASDAQ:SSP - Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 2,970,000 shares, a drop of 17.7% from the September 30th total of 3,610,000 shares. Based on an average daily volume of 644,100 shares, the short-interest ratio is presently 4.6 days.

Institutional Investors Weigh In On E.W. Scripps

A number of institutional investors and hedge funds have recently bought and sold shares of SSP. Sei Investments Co. purchased a new position in shares of E.W. Scripps during the second quarter valued at about $38,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of E.W. Scripps during the second quarter valued at about $39,000. Diversified Trust Co purchased a new position in shares of E.W. Scripps during the third quarter valued at about $42,000. CWM LLC grew its position in shares of E.W. Scripps by 4,620.6% during the second quarter. CWM LLC now owns 14,209 shares of the company's stock valued at $45,000 after purchasing an additional 13,908 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in E.W. Scripps in the first quarter worth about $50,000. 67.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SSP has been the topic of a number of research reports. StockNews.com downgraded E.W. Scripps from a "hold" rating to a "sell" rating in a research note on Thursday, August 15th. Benchmark decreased their target price on E.W. Scripps from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Monday, August 12th.

E.W. Scripps Stock Performance

E.W. Scripps stock traded up $0.25 during trading on Monday, reaching $2.72. The company had a trading volume of 346,858 shares, compared to its average volume of 871,094. E.W. Scripps has a 52 week low of $1.68 and a 52 week high of $9.35. The firm's 50-day simple moving average is $2.20 and its 200 day simple moving average is $2.77. The firm has a market capitalization of $234.25 million, a price-to-earnings ratio of -0.71 and a beta of 1.74. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). The business had revenue of $573.63 million for the quarter, compared to the consensus estimate of $586.65 million. E.W. Scripps had a negative net margin of 11.06% and a positive return on equity of 2.94%. During the same period in the prior year, the business earned ($0.09) earnings per share.

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.