E.W. Scripps (NASDAQ:SSP) Major Shareholder Molly Mccabe Sells 112,284 Shares of Stock

E.W. Scripps Company (The) (NASDAQ:SSP) major shareholder Molly Mccabe sold 112,284 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $3.40, for a total transaction of $381,765.60. Following the transaction, the insider owned 11,239 shares of the company’s stock, valued at $38,212.60. This trade represents a 90.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

E.W. Scripps Trading Down 2.0%

NASDAQ SSP opened at $3.42 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 3.08. E.W. Scripps Company has a 52 week low of $2.02 and a 52 week high of $5.39. The stock has a market capitalization of $313.07 million, a PE ratio of -1.85 and a beta of 0.72. The firm has a 50 day moving average of $4.04 and a two-hundred day moving average of $3.89.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.32. E.W. Scripps had a negative net margin of 4.63% and a negative return on equity of 0.56%. The company had revenue of $516.87 million during the quarter, compared to analysts’ expectations of $516.86 million. As a group, research analysts expect that E.W. Scripps Company will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim reiterated a “neutral” rating on shares of E.W. Scripps in a report on Friday, March 6th. Zacks Research upgraded shares of E.W. Scripps from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Benchmark lowered their price target on shares of E.W. Scripps from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.95.

Institutional Trading of E.W. Scripps

Several institutional investors have recently modified their holdings of SSP. Empowered Funds LLC lifted its position in shares of E.W. Scripps by 8.6% during the 1st quarter. Empowered Funds LLC now owns 316,113 shares of the company’s stock worth $936,000 after buying an additional 25,070 shares during the last quarter. Strs Ohio purchased a new stake in shares of E.W. Scripps during the 1st quarter worth approximately $117,000. Geode Capital Management LLC lifted its position in shares of E.W. Scripps by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,516,298 shares of the company’s stock worth $4,459,000 after buying an additional 10,957 shares during the last quarter. Creative Planning lifted its position in shares of E.W. Scripps by 111.4% during the 2nd quarter. Creative Planning now owns 49,518 shares of the company’s stock worth $146,000 after buying an additional 26,090 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of E.W. Scripps by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 152,443 shares of the company’s stock worth $448,000 after buying an additional 19,393 shares during the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.