The E.W. Scripps Company (NASDAQ:SSP) Short Interest Up 26.9% in March

The E.W. Scripps Company (NASDAQ:SSP - Get Free Report) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 2,640,000 shares, an increase of 26.9% from the February 28th total of 2,080,000 shares. Approximately 3.2% of the company's stock are sold short. Based on an average trading volume of 1,110,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

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

E.W. Scripps Stock Down 6.7 %

SSP traded down $0.17 during midday trading on Friday, hitting $2.38. 1,068,285 shares of the company's stock traded hands, compared to its average volume of 920,120. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $206.35 million, a PE ratio of -0.77 and a beta of 0.92. The stock's fifty day simple moving average is $2.18 and its 200-day simple moving average is $2.24. E.W. Scripps has a one year low of $1.36 and a one year high of $4.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in E.W. Scripps in the fourth quarter worth $25,000. Heron Bay Capital Management acquired a new stake in shares of E.W. Scripps in the fourth quarter worth about $25,000. Public Employees Retirement System of Ohio bought a new stake in shares of E.W. Scripps during the 4th quarter worth about $29,000. Tower Research Capital LLC TRC increased its holdings in shares of E.W. Scripps by 137.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company's stock valued at $30,000 after acquiring an additional 7,927 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of E.W. Scripps in the 4th quarter valued at approximately $30,000. Institutional investors own 67.81% of the company's stock.

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.