The E.W. Scripps Company (NASDAQ:SSP) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 23.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,697,221 shares of the company's stock after selling 505,965 shares during the quarter. Assenagon Asset Management S.A. owned 1.99% of E.W. Scripps worth $3,810,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Diversified Trust Co purchased a new stake in shares of E.W. Scripps in the third quarter valued at about $42,000. Point72 DIFC Ltd purchased a new stake in E.W. Scripps in the 2nd quarter valued at approximately $56,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in E.W. Scripps during the 2nd quarter worth approximately $66,000. Algert Global LLC increased its position in E.W. Scripps by 142.6% during the 2nd quarter. Algert Global LLC now owns 105,980 shares of the company's stock worth $333,000 after purchasing an additional 62,300 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of E.W. Scripps during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 67.81% of the company's stock.

E.W. Scripps Price Performance

E.W. Scripps stock traded up $0.04 during midday trading on Thursday, reaching $3.36. 433,505 shares of the company were exchanged, compared to its average volume of 868,521. The company has a market capitalization of $288.93 million, a price-to-earnings ratio of -0.92 and a beta of 1.74. The firm's 50-day simple moving average is $2.27 and its 200-day simple moving average is $2.78. The E.W. Scripps Company has a 1 year low of $1.68 and a 1 year high of $9.35. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.50 and a current ratio of 1.50.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) EPS 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 company had revenue of $573.63 million for the quarter, compared to analysts' expectations of $586.65 million. During the same quarter in the prior year, the business posted ($0.09) EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SSP shares. Benchmark cut their price target 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.

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.