The E.W. Scripps Company (NASDAQ:SSP) Short Interest Up 26.9% in March

The E.W. Scripps Company (NASDAQ:SSP) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,640,000 shares, a growth of 26.9% from the February 28th total of 2,080,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 3.2% of the company’s shares are sold short.

E.W. Scripps Stock Up 0.5 %

Shares of E.W. Scripps stock traded up $0.02 during trading on Wednesday, hitting $3.05. The company’s stock had a trading volume of 454,473 shares, compared to its average volume of 971,945. E.W. Scripps has a 52 week low of $1.36 and a 52 week high of $4.65. The company has a market capitalization of $264.00 million, a PE ratio of -0.98 and a beta of 1.54. The company has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $2.23. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34.

Wall Street Analyst Weigh In

Separately, Benchmark increased their target price on E.W. Scripps from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th.

Hedge Funds Weigh In On E.W. Scripps

Several large investors have recently made changes to their positions in the business. Wittenberg Investment Management Inc. raised its stake in E.W. Scripps by 8.4% during the fourth quarter. Wittenberg Investment Management Inc. now owns 1,784,139 shares of the company’s stock valued at $3,943,000 after buying an additional 137,900 shares during the last quarter. Millennium Management LLC increased its position in shares of E.W. Scripps by 7.7% during the fourth quarter. Millennium Management LLC now owns 1,724,192 shares of the company’s stock valued at $3,810,000 after acquiring an additional 123,663 shares in the last quarter. Geode Capital Management LLC increased its holdings in E.W. Scripps by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,468,827 shares of the company’s stock worth $3,247,000 after buying an additional 26,683 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of E.W. Scripps by 112.5% during the fourth quarter. Marshall Wace LLP now owns 1,055,343 shares of the company’s stock valued at $2,332,000 after purchasing an additional 558,818 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in E.W. Scripps by 16.0% during the fourth quarter. Two Sigma Investments LP now owns 712,221 shares of the company’s stock valued at $1,574,000 after purchasing an additional 98,172 shares during the period. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

E.W. Scripps Company Profile

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.