E. W. Scripps (NYSE:SSP) major shareholder Mary Peirce purchased 13,846 shares of the firm’s stock in a transaction on Wednesday, October 10th. The stock was bought at an average price of $16.80 per share, for a total transaction of $232,612.80. Following the acquisition, the insider now owns 328,869 shares in the company, valued at $5,524,999.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Mary Peirce also recently made the following trade(s):
- On Wednesday, October 3rd, Mary Peirce purchased 13,050 shares of E. W. Scripps stock. The stock was bought at an average price of $16.51 per share, for a total transaction of $215,455.50.
- On Wednesday, September 26th, Mary Peirce purchased 11,061 shares of E. W. Scripps stock. The stock was bought at an average price of $16.43 per share, for a total transaction of $181,732.23.
- On Wednesday, September 19th, Mary Peirce bought 8,795 shares of E. W. Scripps stock. The stock was acquired at an average cost of $16.33 per share, for a total transaction of $143,622.35.
Shares of SSP stock opened at $16.13 on Friday. E. W. Scripps has a 52 week low of $10.69 and a 52 week high of $18.23. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.02 billion, a PE ratio of -41.36, a price-to-earnings-growth ratio of 3.19 and a beta of 2.03.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Friday, September 14th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, September 13th. E. W. Scripps’s dividend payout ratio is presently -51.28%.
Hedge funds have recently modified their holdings of the company. LMR Partners LLP purchased a new position in shares of E. W. Scripps in the 2nd quarter valued at $412,000. Price Capital Management Inc. purchased a new stake in E. W. Scripps during the 2nd quarter worth $488,000. California Public Employees Retirement System increased its stake in E. W. Scripps by 7.8% during the 1st quarter. California Public Employees Retirement System now owns 112,217 shares of the company’s stock worth $1,345,000 after buying an additional 8,117 shares during the period. Public Employees Retirement System of Ohio increased its stake in E. W. Scripps by 19.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after buying an additional 17,580 shares during the period. Finally, New York State Common Retirement Fund increased its stake in E. W. Scripps by 14.8% during the 1st quarter. New York State Common Retirement Fund now owns 323,388 shares of the company’s stock worth $3,877,000 after buying an additional 41,675 shares during the period. 77.70% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on SSP shares. Noble Financial set a $19.00 target price on shares of E. W. Scripps and gave the company a “buy” rating in a research note on Monday, July 9th. Zacks Investment Research raised shares of E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, August 7th. Finally, Stephens set a $15.00 target price on shares of E. W. Scripps and gave the company a “hold” rating in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $18.60.
About E. W. Scripps
The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.
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