Gamco Investors INC. ET AL Decreases Holdings in E.W. Scripps Company (The) $SSP

Gamco Investors INC. ET AL reduced its stake in E.W. Scripps Company (The) (NASDAQ:SSP) by 5.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,736,553 shares of the company’s stock after selling 142,752 shares during the quarter. Gamco Investors INC. ET AL owned 3.16% of E.W. Scripps worth $8,100,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in E.W. Scripps by 111.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,931 shares of the company’s stock worth $26,000 after acquiring an additional 4,715 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of E.W. Scripps during the 4th quarter worth approximately $25,000. Public Employees Retirement System of Ohio bought a new stake in shares of E.W. Scripps in the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC lifted its stake in 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 valued at $30,000 after purchasing an additional 7,927 shares during the last quarter. Finally, Group One Trading LLC lifted its stake in E.W. Scripps by 479.9% in the fourth quarter. Group One Trading LLC now owns 13,998 shares of the company’s stock valued at $31,000 after purchasing an additional 11,584 shares during the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

E.W. Scripps Price Performance

Shares of NASDAQ SSP opened at $3.09 on Thursday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.27 and a current ratio of 1.27. E.W. Scripps Company has a fifty-two week low of $1.36 and a fifty-two week high of $4.17. The stock has a market cap of $272.94 million, a PE ratio of 6.44 and a beta of 1.01. The stock has a fifty day moving average of $3.17 and a 200-day moving average of $2.59.

E.W. Scripps (NASDAQ:SSP) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The company had revenue of $540.08 million during the quarter, compared to the consensus estimate of $544.17 million. E.W. Scripps had a return on equity of 17.68% and a net margin of 4.25%. Equities research analysts anticipate that E.W. Scripps Company will post 1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SSP. Wells Fargo & Company decreased their target price on E.W. Scripps from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. Wall Street Zen upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.50.

E.W. Scripps 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.