The E.W. Scripps Company (NASDAQ:SSP) Short Interest Up 19.7% in March

The E.W. Scripps Company (NASDAQ:SSP) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 3,160,000 shares, a growth of 19.7% from the March 15th total of 2,640,000 shares. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.8% of the shares of the stock are short sold.

E.W. Scripps Price Performance

E.W. Scripps stock opened at $2.08 on Wednesday. The stock has a market cap of $180.34 million, a price-to-earnings ratio of -0.67 and a beta of 0.92. E.W. Scripps has a 12-month low of $1.36 and a 12-month high of $4.65. 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 business’s 50-day simple moving average is $2.26 and its 200 day simple moving average is $2.25.

Wall Street Analyst Weigh In

Separately, Benchmark upped their target price on shares of E.W. Scripps from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th.

Institutional Investors Weigh In On E.W. Scripps

Several institutional investors have recently modified their holdings of SSP. Wittenberg Investment Management Inc. boosted its stake in E.W. Scripps by 8.4% in the fourth quarter. Wittenberg Investment Management Inc. now owns 1,784,139 shares of the company’s stock valued at $3,943,000 after acquiring an additional 137,900 shares during the last quarter. Millennium Management LLC grew its stake in shares of E.W. Scripps by 7.7% during the fourth quarter. Millennium Management LLC now owns 1,724,192 shares of the company’s stock worth $3,810,000 after purchasing an additional 123,663 shares during the period. Geode Capital Management LLC grew its stake in shares of E.W. Scripps by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,468,827 shares of the company’s stock worth $3,247,000 after purchasing an additional 26,683 shares during the period. Marshall Wace LLP increased its holdings in E.W. Scripps by 112.5% in the fourth quarter. Marshall Wace LLP now owns 1,055,343 shares of the company’s stock valued at $2,332,000 after purchasing an additional 558,818 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in E.W. Scripps by 16.0% during the fourth quarter. Two Sigma Investments LP now owns 712,221 shares of the company’s stock worth $1,574,000 after buying an additional 98,172 shares during the last quarter. Institutional investors and hedge funds 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.