The E.W. Scripps Company (NASDAQ:SSP) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC increased its position in shares of The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 2,290.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 389,976 shares of the company's stock after purchasing an additional 373,659 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.46% of E.W. Scripps worth $1,225,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SSP. Wittenberg Investment Management Inc. raised its holdings in E.W. Scripps by 340.0% during the fourth quarter. Wittenberg Investment Management Inc. now owns 66,000 shares of the company's stock worth $527,000 after purchasing an additional 51,000 shares in the last quarter. SageView Advisory Group LLC purchased a new position in E.W. Scripps in the fourth quarter valued at about $82,000. Ariston Services Group purchased a new position in E.W. Scripps in the fourth quarter valued at about $1,500,000. PNC Financial Services Group Inc. increased its holdings in E.W. Scripps by 229.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,761 shares of the company's stock valued at $86,000 after buying an additional 7,496 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in E.W. Scripps by 0.9% in the first quarter. Pinnacle Associates Ltd. now owns 319,414 shares of the company's stock valued at $1,255,000 after buying an additional 2,858 shares in the last quarter. 67.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SSP. Benchmark dropped their target price on shares of E.W. Scripps from $14.00 to $11.00 and set a "buy" rating for the company in a report on Monday, August 12th. StockNews.com cut shares of E.W. Scripps from a "hold" rating to a "sell" rating in a report on Thursday, August 15th.

E.W. Scripps Trading Down 2.0 %

Shares of SSP opened at $2.20 on Wednesday. The company has a debt-to-equity ratio of 3.79, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $2.34 and a 200-day simple moving average of $2.91. The E.W. Scripps Company has a 1-year low of $1.68 and a 1-year high of $9.35. The stock has a market cap of $187.86 million, a price-to-earnings ratio of -0.19 and a beta of 1.73.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. The business had revenue of $573.63 million for the quarter, compared to analysts' expectations of $586.65 million. During the same period last year, the business earned ($0.09) earnings per share. Equities analysts forecast that The E.W. Scripps Company will post 0.75 EPS for the current fiscal year.

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.