E. W. Scripps (SSP) Major Shareholder Purchases $232,612.80 in Stock

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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.

E. W. Scripps (NYSE:SSP) last issued its earnings results on Friday, August 3rd. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. E. W. Scripps had a negative net margin of 3.93% and a positive return on equity of 0.89%. The business had revenue of $283.40 million for the quarter, compared to the consensus estimate of $275.68 million. During the same quarter last year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities analysts expect that E. W. Scripps will post 0.63 earnings per share for the current year.

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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Insider Buying and Selling by Quarter for E. W. Scripps (NYSE:SSP)

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