Pinebridge Investments L.P. increased its stake in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 458.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,130 shares of the company’s stock after purchasing an additional 67,427 shares during the period. Pinebridge Investments L.P. owned approximately 0.06% of Scripps Networks Interactive worth $5,611,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in SNI. Mascoma Wealth Management LLC acquired a new stake in shares of Scripps Networks Interactive during the second quarter worth $130,000. Federated Investors Inc. PA grew its stake in Scripps Networks Interactive by 48.4% in the second quarter. Federated Investors Inc. PA now owns 2,378 shares of the company’s stock valued at $163,000 after acquiring an additional 776 shares during the period. SRS Capital Advisors Inc. grew its stake in Scripps Networks Interactive by 13.3% in the first quarter. SRS Capital Advisors Inc. now owns 2,152 shares of the company’s stock valued at $168,000 after acquiring an additional 252 shares during the period. Assetmark Inc. grew its stake in Scripps Networks Interactive by 2.7% in the first quarter. Assetmark Inc. now owns 2,542 shares of the company’s stock valued at $199,000 after acquiring an additional 67 shares during the period. Finally, Bronfman E.L. Rothschild L.P. grew its stake in Scripps Networks Interactive by 1.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,954 shares of the company’s stock valued at $202,000 after acquiring an additional 32 shares during the period. 75.85% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jeffrey Sagansky sold 1,159 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $87.83, for a total transaction of $101,794.97. Following the transaction, the director now owns 9,457 shares in the company, valued at $830,608.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.
A number of research analysts have issued reports on SNI shares. Gabelli reissued a “buy” rating on shares of Scripps Networks Interactive in a research note on Thursday, July 27th. Zacks Investment Research upgraded Scripps Networks Interactive from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Citigroup Inc. upgraded Scripps Networks Interactive from a “sell” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $90.00 in a report on Tuesday, August 1st. KeyCorp restated a “hold” rating on shares of Scripps Networks Interactive in a report on Friday, August 25th. Finally, Royal Bank Of Canada boosted their price target on Scripps Networks Interactive from $76.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $84.20.
Shares of Scripps Networks Interactive, Inc (NASDAQ SNI) traded down 0.01% during mid-day trading on Thursday, hitting $85.74. The stock had a trading volume of 40,774 shares. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 17.69 and a beta of 1.47. Scripps Networks Interactive, Inc has a 1-year low of $59.32 and a 1-year high of $88.45. The stock’s 50-day moving average is $86.14 and its 200 day moving average is $76.15.
The company also recently declared a quarterly dividend, which was paid on Sunday, September 10th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, August 29th. Scripps Networks Interactive’s payout ratio is 24.79%.
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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