The E.W. Scripps Company (NASDAQ:SSP) Sees Large Decrease in Short Interest

The E.W. Scripps Company (NASDAQ:SSP) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 2,150,000 shares, a drop of 19.8% from the December 31st total of 2,680,000 shares. Based on an average daily volume of 686,400 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSP. Diversified Trust Co increased its holdings in shares of E.W. Scripps by 36.6% in the 4th quarter. Diversified Trust Co now owns 25,644 shares of the company’s stock worth $57,000 after purchasing an additional 6,868 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of E.W. Scripps by 16.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,257 shares of the company’s stock worth $117,000 after purchasing an additional 7,460 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of E.W. Scripps by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock worth $460,000 after purchasing an additional 9,900 shares in the last quarter. Sei Investments Co. bought a new stake in shares of E.W. Scripps in the 2nd quarter worth $38,000. Finally, American Century Companies Inc. boosted its stake in shares of E.W. Scripps by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 89,180 shares of the company’s stock worth $280,000 after buying an additional 13,156 shares during the last quarter. Institutional investors own 67.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark lowered their target price on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

E.W. Scripps Stock Down 6.4 %

SSP stock traded down $0.12 on Monday, reaching $1.76. 462,359 shares of the company traded hands, compared to its average volume of 483,350. E.W. Scripps has a one year low of $1.68 and a one year high of $7.69. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $151.99 million, a P/E ratio of -0.57 and a beta of 1.45. The firm has a fifty day simple moving average of $2.16 and a 200-day simple moving average of $2.34.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The company had revenue of $646.30 million for the quarter, compared to the consensus estimate of $634.01 million. During the same period last year, the business earned ($0.15) EPS. Research analysts anticipate that E.W. Scripps will post 1.07 earnings per share for the current year.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.