Wolverine Asset Management LLC Has $350,000 Holdings in E.W. Scripps Company (The) (NASDAQ:SSP)

Wolverine Asset Management LLC trimmed its position in shares of E.W. Scripps Company (The) (NASDAQ:SSP) by 4.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 118,332 shares of the company’s stock after selling 5,000 shares during the period. Wolverine Asset Management LLC’s holdings in E.W. Scripps were worth $350,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new stake in shares of E.W. Scripps in the fourth quarter valued at about $25,000. Public Employees Retirement System of Ohio bought a new position in shares of E.W. Scripps in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC lifted its holdings in shares of E.W. Scripps by 137.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company’s stock worth $30,000 after acquiring an additional 7,927 shares during the last quarter. Group One Trading LLC lifted its holdings in shares of E.W. Scripps by 479.9% in the fourth quarter. Group One Trading LLC now owns 13,998 shares of the company’s stock worth $31,000 after acquiring an additional 11,584 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of E.W. Scripps in the first quarter valued at approximately $44,000. 67.81% of the stock is currently owned by institutional investors and hedge funds.

E.W. Scripps Trading Down 10.3%

Shares of SSP opened at $2.52 on Monday. The business has a 50-day moving average of $3.04 and a 200 day moving average of $2.50. E.W. Scripps Company has a fifty-two week low of $1.36 and a fifty-two week high of $4.17. The firm has a market cap of $221.03 million, a P/E ratio of 5.25 and a beta of 1.01. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.36 and a current ratio of 1.27.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The business had revenue of $540.08 million for the quarter, compared to the consensus estimate of $544.17 million. E.W. Scripps had a net margin of 4.25% and a return on equity of 15.79%. As a group, research analysts forecast that E.W. Scripps Company will post 1.07 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of E.W. Scripps from $2.80 to $4.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Wall Street Zen cut E.W. Scripps from a “hold” rating to a “sell” rating in a report on Sunday.

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.