Algert Global LLC Sells 52,270 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Algert Global LLC lowered its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 49.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,710 shares of the company’s stock after selling 52,270 shares during the quarter. Algert Global LLC owned about 0.06% of E.W. Scripps worth $119,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SSP. Barclays PLC boosted its stake in shares of E.W. Scripps by 1,643.5% in the 3rd quarter. Barclays PLC now owns 418,588 shares of the company’s stock valued at $941,000 after purchasing an additional 394,580 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in E.W. Scripps by 245.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 94,171 shares of the company’s stock valued at $211,000 after purchasing an additional 66,885 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in E.W. Scripps in the fourth quarter valued at approximately $320,000. Foster & Motley Inc. bought a new stake in shares of E.W. Scripps during the fourth quarter worth $75,000. Finally, Empowered Funds LLC increased its holdings in shares of E.W. Scripps by 5.1% during the fourth quarter. Empowered Funds LLC now owns 291,043 shares of the company’s stock worth $643,000 after buying an additional 14,205 shares in the last quarter. Institutional investors own 67.81% of the company’s stock.

Analyst Ratings Changes

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

E.W. Scripps Stock Performance

Shares of SSP opened at $2.55 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41. The firm’s fifty day simple moving average is $2.44 and its two-hundred day simple moving average is $2.21. The E.W. Scripps Company has a 12 month low of $1.36 and a 12 month high of $4.08. The stock has a market capitalization of $221.09 million, a P/E ratio of -0.82 and a beta of 1.01.

E.W. Scripps (NASDAQ:SSP) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The firm had revenue of $524.39 million for the quarter, compared to analyst estimates of $520.04 million. As a group, analysts predict that The E.W. Scripps Company will post 1.07 EPS 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.