The E.W. Scripps Company (NASDAQ:SSP - Get Free Report) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 2,640,000 shares, a growth of 26.9% from the February 28th total of 2,080,000 shares. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 3.2% of the company's stock are sold short.
Hedge Funds Weigh In On E.W. Scripps
Several large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new position in shares of E.W. Scripps during the 4th quarter worth about $25,000. Heron Bay Capital Management purchased a new stake in E.W. Scripps during the fourth quarter worth approximately $25,000. Public Employees Retirement System of Ohio acquired a new position in E.W. Scripps in the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC increased its stake in E.W. Scripps by 137.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company's stock valued at $30,000 after purchasing an additional 7,927 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in E.W. Scripps during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 67.81% of the company's stock.
E.W. Scripps Stock Down 1.7 %
Shares of NASDAQ:SSP traded down $0.05 during trading hours on Wednesday, reaching $2.98. The stock had a trading volume of 828,161 shares, compared to its average volume of 923,551. E.W. Scripps has a 1 year low of $1.36 and a 1 year high of $4.65. The firm's 50 day moving average is $2.17 and its 200-day moving average is $2.23. The stock has a market capitalization of $258.37 million, a price-to-earnings ratio of -0.96 and a beta of 1.54. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34.
Analyst Ratings Changes
Separately, Benchmark increased their price target on E.W. Scripps from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Thursday, March 13th.
View Our Latest Analysis on SSP
About E.W. Scripps
(
Get Free Report)
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.
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