Gamco Investors INC. ET AL Lowers Position in E. W. Scripps Co (SSP)

Gamco Investors INC. ET AL lowered its stake in E. W. Scripps Co (NYSE:SSP) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,120,554 shares of the company’s stock after selling 58,597 shares during the period. E. W. Scripps accounts for 1.0% of Gamco Investors INC. ET AL’s portfolio, making the stock its 19th largest position. Gamco Investors INC. ET AL owned 9.88% of E. W. Scripps worth $155,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SSP. PNC Financial Services Group Inc. increased its holdings in shares of E. W. Scripps by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of E. W. Scripps by 79.4% in the second quarter. State of Alaska Department of Revenue now owns 11,125 shares of the company’s stock valued at $198,000 after purchasing an additional 4,925 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of E. W. Scripps in the third quarter valued at approximately $203,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of E. W. Scripps in the second quarter valued at approximately $214,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of E. W. Scripps in the second quarter valued at approximately $217,000. 75.44% of the stock is owned by institutional investors and hedge funds.

E. W. Scripps Co (NYSE SSP) traded down $1.34 on Monday, reaching $14.29. 367,114 shares of the company traded hands, compared to its average volume of 337,243. The company has a market cap of $1,284.43, a PE ratio of 31.90, a P/E/G ratio of 30.65 and a beta of 2.01. E. W. Scripps Co has a 1-year low of $12.16 and a 1-year high of $24.15. The company has a quick ratio of 3.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.42.

E. W. Scripps (NYSE:SSP) last posted its quarterly earnings data on Friday, November 3rd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $216.45 million for the quarter, compared to analysts’ expectations of $219.04 million. E. W. Scripps had a net margin of 3.69% and a return on equity of 3.55%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. equities research analysts predict that E. W. Scripps Co will post 0.17 EPS for the current fiscal year.

A number of analysts have commented on the stock. Zacks Investment Research raised shares of E. W. Scripps from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 target price on shares of E. W. Scripps in a report on Friday, July 14th. Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a report on Wednesday, August 2nd. BidaskClub raised shares of E. W. Scripps from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $26.00 target price on shares of E. W. Scripps in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.75.

TRADEMARK VIOLATION WARNING: “Gamco Investors INC. ET AL Lowers Position in E. W. Scripps Co (SSP)” was reported by Community Financial News and is the property of of Community Financial News. If you are reading this report on another publication, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be viewed at https://www.com-unik.info/2017/11/06/gamco-investors-inc-et-al-lowers-position-in-e-w-scripps-co-ssp.html.

E. W. Scripps Company Profile

The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

Want to see what other hedge funds are holding SSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for E. W. Scripps Co (NYSE:SSP).

Institutional Ownership by Quarter for E. W. Scripps (NYSE:SSP)

What are top analysts saying about E. W. Scripps Co? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for E. W. Scripps Co and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit