E.W. Scripps Company (The) $SSP Shares Acquired by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. increased its position in E.W. Scripps Company (The) (NASDAQ:SSP) by 233.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 241,500 shares of the company’s stock after purchasing an additional 169,050 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.27% of E.W. Scripps worth $898,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its stake in E.W. Scripps by 9.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,661,878 shares of the company’s stock worth $9,902,000 after buying an additional 219,839 shares during the last quarter. Sei Investments Co. lifted its stake in E.W. Scripps by 174.7% in the first quarter. Sei Investments Co. now owns 582,224 shares of the company’s stock valued at $2,166,000 after buying an additional 370,260 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in E.W. Scripps by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,729,155 shares of the company’s stock valued at $13,873,000 after buying an additional 57,441 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of E.W. Scripps by 23.8% in the first quarter. Chicago Partners Investment Group LLC now owns 26,075 shares of the company’s stock valued at $97,000 after acquiring an additional 5,020 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of E.W. Scripps in the first quarter valued at approximately $5,273,000. 67.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SSP has been the topic of a number of research reports. Benchmark lowered their target price on shares of E.W. Scripps from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of E.W. Scripps in a research note on Friday, May 29th. Finally, Zacks Research raised shares of E.W. Scripps from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.95.

E.W. Scripps Stock Up 1.7%

SSP opened at $2.99 on Friday. E.W. Scripps Company has a 52 week low of $2.02 and a 52 week high of $5.39. The business has a 50 day moving average price of $3.12 and a two-hundred day moving average price of $3.62. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 3.08. The company has a market cap of $273.70 million, a PE ratio of -1.62 and a beta of 0.65.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Friday, May 8th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.32. The company had revenue of $516.87 million for the quarter, compared to the consensus estimate of $516.86 million. E.W. Scripps had a negative return on equity of 0.56% and a negative net margin of 4.63%. As a group, research analysts anticipate that E.W. Scripps Company will post 0.22 EPS for the current year.

Insider Buying and Selling at E.W. Scripps

In related news, major shareholder Molly E. Mccabe sold 11,239 shares of E.W. Scripps stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.29, for a total value of $36,976.31. Following the transaction, the insider directly owned 266,493 shares in the company, valued at $876,761.97. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 326,675 shares of company stock worth $1,117,887 over the last three months. 5.24% of the stock is owned by company insiders.

E.W. Scripps Profile

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.