Bank of New York Mellon Corp Sells 92,613 Shares of E.W. Scripps Company (The) (SSP)

Bank of New York Mellon Corp lowered its holdings in shares of E.W. Scripps Company (The) (NYSE:SSP) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,305,826 shares of the company’s stock after selling 92,613 shares during the quarter. Bank of New York Mellon Corp owned about 2.81% of E.W. Scripps worth $44,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL raised its holdings in shares of E.W. Scripps by 4.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 8,179,151 shares of the company’s stock valued at $145,671,000 after purchasing an additional 385,574 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of E.W. Scripps by 5.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,813,669 shares of the company’s stock valued at $103,543,000 after purchasing an additional 296,437 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of E.W. Scripps by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,097,074 shares of the company’s stock valued at $90,779,000 after purchasing an additional 63,426 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of E.W. Scripps by 11.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,222,969 shares of the company’s stock valued at $61,591,000 after purchasing an additional 323,969 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of E.W. Scripps by 27.0% during the 2nd quarter. Northern Trust Corp now owns 2,111,385 shares of the company’s stock valued at $37,604,000 after purchasing an additional 449,165 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

A number of research analysts have recently weighed in on SSP shares. Zacks Investment Research downgraded shares of E.W. Scripps from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Benchmark cut their price target on shares of E.W. Scripps from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, November 6th. ValuEngine downgraded shares of E.W. Scripps from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Guggenheim started coverage on shares of E.W. Scripps in a report on Wednesday, October 18th. They set a “neutral” rating and a $19.00 price target on the stock. Finally, Noble Financial restated a “buy” rating on shares of E.W. Scripps in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $19.75.

Shares of E.W. Scripps Company (SSP) traded down $0.24 on Wednesday, reaching $15.36. 225,800 shares of the company traded hands, compared to its average volume of 503,166. The company has a market cap of $1,277.63, a P/E ratio of 31.84 and a beta of 1.93. E.W. Scripps Company has a 12-month low of $13.88 and a 12-month high of $24.15. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.42.

E.W. Scripps (NYSE:SSP) last announced its earnings results on Friday, November 3rd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $216.45 million for the quarter, compared to the consensus estimate of $219.04 million. E.W. Scripps had a net margin of 1.95% and a return on equity of 4.37%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. equities research analysts forecast that E.W. Scripps Company will post -0.1 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This story was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/12/06/bank-of-new-york-mellon-corp-sells-92613-shares-of-e-w-scripps-company-the-ssp.html.

E.W. Scripps Profile

The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

Institutional Ownership by Quarter for E.W. Scripps (NYSE:SSP)

Receive News & Ratings for E.W. Scripps Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E.W. Scripps Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply