Sumitomo Mitsui Asset Management Company LTD Maintains Position in Scripps Networks Interactive, Inc (NASDAQ:SNI)

Sumitomo Mitsui Asset Management Company LTD maintained its stake in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,931 shares of the company’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Scripps Networks Interactive were worth $473,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Shell Asset Management Co. boosted its stake in shares of Scripps Networks Interactive by 8.4% in the second quarter. Shell Asset Management Co. now owns 26,924 shares of the company’s stock worth $1,839,000 after buying an additional 2,080 shares during the last quarter. Montecito Bank & Trust boosted its stake in shares of Scripps Networks Interactive by 17.6% in the second quarter. Montecito Bank & Trust now owns 3,752 shares of the company’s stock worth $257,000 after buying an additional 561 shares during the last quarter. ING Groep NV boosted its stake in shares of Scripps Networks Interactive by 0.8% in the second quarter. ING Groep NV now owns 5,276 shares of the company’s stock worth $360,000 after buying an additional 43 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Scripps Networks Interactive by 109.3% in the second quarter. Contravisory Investment Management Inc. now owns 3,320 shares of the company’s stock worth $227,000 after buying an additional 1,734 shares during the last quarter. Finally, Raub Brock Capital Management LP boosted its stake in shares of Scripps Networks Interactive by 3.6% in the second quarter. Raub Brock Capital Management LP now owns 196,852 shares of the company’s stock worth $13,447,000 after buying an additional 6,874 shares during the last quarter. Institutional investors own 70.48% of the company’s stock.

Shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) opened at 86.83 on Friday. Scripps Networks Interactive, Inc has a 52-week low of $59.32 and a 52-week high of $88.45. The stock’s 50 day moving average is $76.01 and its 200 day moving average is $74.59. The stock has a market cap of $11.27 billion, a PE ratio of 17.92 and a beta of 1.49.

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Several analysts have issued reports on the stock. UBS Group AG reiterated a “neutral” rating and issued a $90.00 target price (up from $83.00) on shares of Scripps Networks Interactive in a research note on Tuesday, August 1st. Needham & Company LLC cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Moffett Nathanson upgraded shares of Scripps Networks Interactive from a “sell” rating to a “neutral” rating and increased their target price for the stock from $61.00 to $87.00 in a research note on Monday, July 31st. Citigroup Inc. upgraded shares of Scripps Networks Interactive from a “sell” rating to a “neutral” rating and increased their target price for the stock from $66.00 to $90.00 in a research note on Tuesday, August 1st. Finally, Argus cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $83.50.

In other news, major shareholder Edward W. Scripps sold 300,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $66.96, for a total value of $20,088,000.00. Following the transaction, the insider now owns 232,071 shares of the company’s stock, valued at $15,539,474.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Sagansky sold 1,159 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $87.83, for a total transaction of $101,794.97. Following the completion of the transaction, the director now directly owns 9,457 shares in the company, valued at approximately $830,608.31. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Scripps Networks Interactive Company Profile

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.

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Institutional Ownership by Quarter for Scripps Networks Interactive (NASDAQ:SNI)

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