E.W. Scripps (NASDAQ:SSP) Major Shareholder Molly Mccabe Sells 11,239 Shares

E.W. Scripps Company (The) (NASDAQ:SSP) major shareholder Molly Mccabe sold 11,239 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.29, for a total transaction of $36,976.31. Following the sale, the insider directly owned 266,493 shares of the company’s stock, valued at approximately $876,761.97. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large 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 Trading Down 2.0%

Shares of SSP stock opened at $3.42 on Friday. E.W. Scripps Company has a 1 year low of $2.02 and a 1 year high of $5.39. The firm has a fifty day moving average price of $4.04 and a 200-day moving average price of $3.89. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market cap of $313.07 million, a price-to-earnings ratio of -1.85 and a beta of 0.72.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SSP. Benchmark cut their price objective on shares of E.W. Scripps from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Guggenheim reaffirmed a “neutral” rating on shares of E.W. Scripps in a report on Friday, March 6th. Finally, Zacks Research raised shares of E.W. Scripps from a “strong sell” rating to a “hold” rating in a 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.95.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in E.W. Scripps by 13.9% in the 1st quarter. Bank of America Corp DE now owns 71,890 shares of the company’s stock worth $267,000 after buying an additional 8,746 shares during the period. Empowered Funds LLC boosted its holdings in E.W. Scripps by 9.9% in the 1st quarter. Empowered Funds LLC now owns 469,174 shares of the company’s stock worth $1,745,000 after buying an additional 42,138 shares during the period. Rangeley Capital LLC bought a new position in E.W. Scripps in the 1st quarter worth $318,000. Gabelli Funds LLC boosted its holdings in E.W. Scripps by 23.2% in the 1st quarter. Gabelli Funds LLC now owns 1,375,524 shares of the company’s stock worth $5,117,000 after buying an additional 258,908 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in E.W. Scripps by 233.3% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 241,500 shares of the company’s stock worth $898,000 after buying an additional 169,050 shares during the period. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Company 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.