The E.W. Scripps Company (NASDAQ:SSP) Shares Purchased by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. boosted its stake in shares of The E.W. Scripps Company (NASDAQ:SSP - Free Report) by 52.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,646,239 shares of the company's stock after purchasing an additional 566,717 shares during the period. E.W. Scripps comprises about 1.2% of Wittenberg Investment Management Inc.'s investment portfolio, making the stock its 17th biggest position. Wittenberg Investment Management Inc. owned approximately 1.91% of E.W. Scripps worth $3,696,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SSP. Sei Investments Co. purchased a new position in shares of E.W. Scripps during the 2nd quarter valued at $38,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of E.W. Scripps during the second quarter valued at approximately $39,000. Diversified Trust Co bought a new position in shares of E.W. Scripps during the third quarter worth $42,000. CWM LLC lifted its stake in E.W. Scripps by 4,620.6% in the 2nd quarter. CWM LLC now owns 14,209 shares of the company's stock worth $45,000 after purchasing an additional 13,908 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in E.W. Scripps in the 1st quarter worth approximately $50,000. Institutional investors own 67.81% of the company's stock.

Wall Street Analyst Weigh In

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

E.W. Scripps Stock Performance

SSP traded down $0.02 on Monday, reaching $2.08. 445,435 shares of the stock were exchanged, compared to its average volume of 890,842. The company's 50-day moving average price is $2.34 and its 200 day moving average price is $2.58. 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 firm has a market capitalization of $179.63 million, a PE ratio of -0.68 and a beta of 1.66. The E.W. Scripps Company has a fifty-two week low of $1.68 and a fifty-two week high of $9.35.

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 analysts' consensus estimates 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 firm had revenue of $646.30 million during the quarter, compared to analysts' expectations of $634.01 million. During the same quarter in the prior year, the company earned ($0.15) EPS. As a group, sell-side analysts forecast that The E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

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.