E.W. Scripps (NASDAQ:SSP) Major Shareholder Acquires $190,318.88 in Stock

E.W. Scripps Company (The) (NASDAQ:SSP) major shareholder Eaton Scripps bought 41,017 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $4.64 per share, for a total transaction of $190,318.88. Following the completion of the purchase, the insider owned 1,388,185 shares in the company, valued at $6,441,178.40. The trade was a 3.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

E.W. Scripps Price Performance

Shares of NASDAQ SSP opened at $4.07 on Friday. E.W. Scripps Company has a fifty-two week low of $1.90 and a fifty-two week high of $4.98. The company has a market cap of $361.42 million, a PE ratio of -2.18 and a beta of 0.54. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.65 and a current ratio of 1.65. The business has a 50-day simple moving average of $3.70 and a two-hundred day simple moving average of $3.41.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.52). The company had revenue of $560.26 million for the quarter, compared to analyst estimates of $550.82 million. E.W. Scripps had a negative net margin of 4.69% and a negative return on equity of 0.27%. As a group, equities analysts expect that E.W. Scripps Company will post 1.07 EPS for the current fiscal year.

Trending Headlines about E.W. Scripps

Here are the key news stories impacting E.W. Scripps this week:

• Positive Sentiment: Large, concentrated insider buying — Multiple major shareholders and directors (including Samantha Brickner, Ellen B. Granado, Austin Heidt, Mary Peirce and Raymundo H. Jr. Granado) reported purchases in early March, signaling owner confidence and reducing perceived near?term sell pressure. Read More.
• Positive Sentiment: Additional coverage/attention from third parties — Media reports highlight a flurry of insider accumulation (which can attract momentum buyers and short?covering). Read More.
• Positive Sentiment: New programming distribution could boost revenue — Scripps’ ION will nationally televise the PWHL game (Mar. 28), which may lift ad and affiliate revenue if viewership/monetization follow. Read More.
• Positive Sentiment: Analyst targets imply upside — Broker average target (~$6.95) sits materially above current levels, giving a valuation cushion if operational metrics improve. Read More.
• Neutral Sentiment: High institutional ownership (~68%) — Institutional positions can amplify moves (both up and down) but are not an immediate directional catalyst by themselves.
• Neutral Sentiment: Short?interest reporting unclear — Published short data in available feeds is inconsistent/zero; short?squeeze risk is indeterminate until exchange?confirmed figures are released.
• Negative Sentiment: Near?term fundamentals remain weak — Scripps missed Q4 EPS (reported ($0.06) vs. $0.46 expected) and carries a high debt?to?equity ratio (~3.1), which constrains upside unless margins and cash flow improve materially.

Institutional Trading of E.W. Scripps

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penn Capital Management Company LLC raised its position in E.W. Scripps by 151.7% during the third quarter. Penn Capital Management Company LLC now owns 3,599,606 shares of the company’s stock valued at $8,864,000 after acquiring an additional 2,169,640 shares in the last quarter. New York State Common Retirement Fund boosted its position in E.W. Scripps by 142.3% in the 3rd quarter. New York State Common Retirement Fund now owns 2,318,987 shares of the company’s stock worth $5,705,000 after purchasing an additional 1,361,721 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of E.W. Scripps by 886.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,280,898 shares of the company’s stock worth $3,151,000 after purchasing an additional 1,151,092 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of E.W. Scripps by 22.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,722,317 shares of the company’s stock worth $18,842,000 after purchasing an additional 871,159 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of E.W. Scripps by 82.5% during the 4th quarter. Federated Hermes Inc. now owns 815,751 shares of the company’s stock valued at $3,255,000 after purchasing an additional 368,852 shares in the last quarter. 67.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Guggenheim restated a “neutral” rating on shares of E.W. Scripps in a research note on Friday, March 6th. Benchmark boosted their price target on E.W. Scripps from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of E.W. Scripps in a report on Monday, December 22nd. Wells Fargo & Company lifted their target price on E.W. Scripps from $3.00 to $3.90 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Finally, Zacks Research lowered E.W. Scripps from a “hold” rating to a “strong sell” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $6.95.

About E.W. Scripps

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.