The E.W. Scripps Company (NASDAQ:SSP) Sees Large Decrease in Short Interest

The E.W. Scripps Company (NASDAQ:SSP) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 2,150,000 shares, a decline of 19.8% from the December 31st total of 2,680,000 shares. Based on an average daily trading volume, of 686,400 shares, the short-interest ratio is currently 3.1 days.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SSP shares. StockNews.com raised E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark cut their price objective on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th.

E.W. Scripps Price Performance

NASDAQ SSP traded down $0.12 during trading on Monday, reaching $1.76. The company’s stock had a trading volume of 462,359 shares, compared to its average volume of 483,350. The stock has a market capitalization of $151.99 million, a PE ratio of -0.57 and a beta of 1.45. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a fifty day moving average of $2.16 and a 200 day moving average of $2.34. E.W. Scripps has a one year low of $1.68 and a one year high of $7.69.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). The business had revenue of $646.30 million during the quarter, compared to the consensus estimate of $634.01 million. E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Analysts expect that E.W. Scripps will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On E.W. Scripps

Several institutional investors have recently modified their holdings of SSP. Sei Investments Co. purchased a new stake in E.W. Scripps during the 2nd quarter valued at about $38,000. Diversified Trust Co purchased a new stake in E.W. Scripps during the 3rd quarter valued at about $42,000. Ieq Capital LLC purchased a new stake in E.W. Scripps during the 4th quarter valued at about $45,000. Mackenzie Financial Corp purchased a new stake in E.W. Scripps during the 2nd quarter valued at about $64,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in E.W. Scripps during the 2nd quarter valued at about $66,000. 67.81% of the stock is currently owned by institutional investors.

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.