The E.W. Scripps Company (NASDAQ:SSP) Sees Large Drop in Short Interest

The E.W. Scripps Company (NASDAQ:SSP - Get Free Report) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 2,150,000 shares, a decline of 19.8% from the December 31st total of 2,680,000 shares. Based on an average daily trading volume, of 686,400 shares, the days-to-cover ratio is currently 3.1 days.

E.W. Scripps Stock Down 3.7 %

Shares of NASDAQ:SSP traded down $0.07 during trading on Wednesday, hitting $1.81. The stock had a trading volume of 310,270 shares, compared to its average volume of 480,397. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41. The company has a market capitalization of $156.40 million, a PE ratio of -0.59 and a beta of 1.45. The firm's fifty day moving average is $2.15 and its 200 day moving average is $2.32. E.W. Scripps has a 12 month low of $1.68 and a 12 month high of $7.69.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The business had revenue of $646.30 million for the quarter, compared to analysts' expectations of $634.01 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. Analysts anticipate that E.W. Scripps will post 1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com upgraded E.W. Scripps from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Benchmark cut their price objective on E.W. Scripps from $11.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday, November 5th.

Hedge Funds Weigh In On E.W. Scripps

A number of institutional investors and hedge funds have recently modified their holdings of SSP. Sei Investments Co. bought a new position in E.W. Scripps in the 2nd quarter worth $38,000. Diversified Trust Co purchased a new stake in shares of E.W. Scripps in the third quarter worth about $42,000. Ieq Capital LLC purchased a new stake in shares of E.W. Scripps in the fourth quarter worth about $45,000. Mackenzie Financial Corp bought a new stake in E.W. Scripps during the second quarter worth approximately $64,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in E.W. Scripps during the second quarter worth approximately $66,000. 67.81% of the stock is currently owned by hedge funds and other 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.