Investors Buy Scripps Networks Interactive (SNI) on Weakness Following Insider Selling

Investors purchased shares of Scripps Networks Interactive, Inc. (NASDAQ:SNI) on weakness during trading on Friday after an insider sold shares in the company. $58.45 million flowed into the stock on the tick-up and $14.19 million flowed out of the stock on the tick-down, for a money net flow of $44.26 million into the stock. Of all stocks tracked, Scripps Networks Interactive had the 8th highest net in-flow for the day. Scripps Networks Interactive traded down ($0.36) for the day and closed at $85.35Specifically, Director Michael R. Costa sold 18,955 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $83.64, for a total value of $1,585,396.20. Following the sale, the director now owns 13,035 shares in the company, valued at $1,090,247.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Sagansky sold 1,077 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $79.61, for a total transaction of $85,739.97. Following the completion of the sale, the director now owns 7,520 shares in the company, valued at approximately $598,667.20. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Several equities research analysts have commented on SNI shares. Royal Bank of Canada set a $90.00 price target on shares of Scripps Networks Interactive and gave the company a “hold” rating in a research note on Friday, October 20th. BidaskClub lowered shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research note on Saturday, September 2nd. Cowen reiterated a “hold” rating and issued a $90.00 price objective on shares of Scripps Networks Interactive in a report on Friday, September 8th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Scripps Networks Interactive in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. Scripps Networks Interactive currently has a consensus rating of “Hold” and an average price target of $85.62.

The company has a market capitalization of $11,030.00, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.19 and a quick ratio of 3.19.

Scripps Networks Interactive (NASDAQ:SNI) last issued its earnings results on Wednesday, November 1st. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.09. The firm had revenue of $825.53 million during the quarter, compared to analysts’ expectations of $838.63 million. Scripps Networks Interactive had a net margin of 17.46% and a return on equity of 27.04%. During the same period last year, the firm posted $1.26 earnings per share. analysts predict that Scripps Networks Interactive, Inc. will post 5.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Thursday, November 30th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, November 29th. Scripps Networks Interactive’s payout ratio is 12.88%.

A number of large investors have recently modified their holdings of the stock. Amalgamated Bank boosted its stake in Scripps Networks Interactive by 56.5% in the 2nd quarter. Amalgamated Bank now owns 10,074 shares of the company’s stock worth $688,000 after purchasing an additional 3,638 shares during the period. P Schoenfeld Asset Management LP acquired a new position in Scripps Networks Interactive in the 3rd quarter worth approximately $12,884,000. Schwab Charles Investment Management Inc. boosted its stake in Scripps Networks Interactive by 17.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 500,910 shares of the company’s stock worth $34,218,000 after purchasing an additional 73,006 shares during the period. Swiss National Bank boosted its stake in Scripps Networks Interactive by 9.1% in the 2nd quarter. Swiss National Bank now owns 312,861 shares of the company’s stock worth $21,372,000 after purchasing an additional 26,000 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Scripps Networks Interactive by 1,107.7% in the 2nd quarter. Alliancebernstein L.P. now owns 2,084,212 shares of the company’s stock worth $142,373,000 after purchasing an additional 1,911,635 shares during the period. Hedge funds and other institutional investors own 60.86% of the company’s stock.

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Scripps Networks Interactive Company Profile

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.

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