Short Interest in The E.W. Scripps Company (NASDAQ:SSP) Rises By 19.7%

The E.W. Scripps Company (NASDAQ:SSP - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,160,000 shares, a growth of 19.7% from the March 15th total of 2,640,000 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is presently 2.6 days.

E.W. Scripps Trading Up 2.4 %

NASDAQ SSP opened at $2.17 on Monday. E.W. Scripps has a 52 week low of $1.36 and a 52 week high of $4.65. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $188.14 million, a price-to-earnings ratio of -0.70 and a beta of 0.92. The stock's 50 day moving average price is $2.26 and its two-hundred day moving average price is $2.26.

Analyst Upgrades and Downgrades

Separately, Benchmark upped their price target on shares of E.W. Scripps from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Thursday, March 13th.

Institutional Investors Weigh In On E.W. Scripps

Several institutional investors have recently made changes to their positions in SSP. Wealth Enhancement Advisory Services LLC acquired a new position in E.W. Scripps during the 4th quarter worth approximately $37,000. Jefferies Financial Group Inc. acquired a new stake in E.W. Scripps during the fourth quarter worth approximately $291,000. Public Employees Retirement System of Ohio bought a new stake in E.W. Scripps in the fourth quarter worth approximately $29,000. Two Sigma Advisers LP lifted its stake in E.W. Scripps by 35.3% in the fourth quarter. Two Sigma Advisers LP now owns 471,600 shares of the company's stock valued at $1,042,000 after buying an additional 123,100 shares during the period. Finally, Two Sigma Investments LP increased its stake in E.W. Scripps by 16.0% in the fourth quarter. Two Sigma Investments LP now owns 712,221 shares of the company's stock valued at $1,574,000 after purchasing an additional 98,172 shares in the last quarter. 67.81% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.