29,500 Shares in The E.W. Scripps Company (NASDAQ:SSP) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in The E.W. Scripps Company (NASDAQ:SSP) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 29,500 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in E.W. Scripps by 112.6% during the third quarter. Mackenzie Financial Corp now owns 25,687 shares of the company’s stock worth $129,000 after buying an additional 13,607 shares during the period. Teacher Retirement System of Texas boosted its position in E.W. Scripps by 118.8% during the third quarter. Teacher Retirement System of Texas now owns 136,633 shares of the company’s stock valued at $749,000 after purchasing an additional 74,179 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in E.W. Scripps in the third quarter valued at about $233,000. Jump Financial LLC bought a new position in E.W. Scripps in the third quarter worth about $87,000. Finally, New York State Common Retirement Fund lifted its position in shares of E.W. Scripps by 8.9% during the third quarter. New York State Common Retirement Fund now owns 855,415 shares of the company’s stock valued at $4,688,000 after buying an additional 70,250 shares during the last quarter. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Price Performance

Shares of NASDAQ SSP opened at $3.90 on Thursday. The E.W. Scripps Company has a fifty-two week low of $2.93 and a fifty-two week high of $11.02. The company has a debt-to-equity ratio of 3.91, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $330.78 million, a PE ratio of -0.33 and a beta of 1.93. The business has a 50-day simple moving average of $3.87 and a two-hundred day simple moving average of $6.03.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The firm had revenue of $615.77 million for the quarter, compared to analyst estimates of $593.00 million. E.W. Scripps had a positive return on equity of 1.81% and a negative net margin of 41.33%. As a group, equities analysts expect that The E.W. Scripps Company will post 0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price target on shares of E.W. Scripps from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th.

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.