Short Interest in The E.W. Scripps Company (NASDAQ:SSP) Grows By 26.9%

The E.W. Scripps Company (NASDAQ:SSP) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,640,000 shares, a growth of 26.9% from the February 28th total of 2,080,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 3.2% of the company’s stock are short sold.

E.W. Scripps Stock Performance

Shares of E.W. Scripps stock traded up $0.02 on Wednesday, reaching $3.05. 454,473 shares of the company traded hands, compared to its average volume of 971,945. The firm has a market capitalization of $264.00 million, a PE ratio of -0.98 and a beta of 1.54. The company has a 50 day moving average of $2.16 and a 200 day moving average of $2.23. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. E.W. Scripps has a 52 week low of $1.36 and a 52 week high of $4.65.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On E.W. Scripps

A number of institutional investors and hedge funds have recently modified their holdings of the company. Two Sigma Securities LLC grew its position in shares of E.W. Scripps by 32.9% during the 4th quarter. Two Sigma Securities LLC now owns 23,489 shares of the company’s stock valued at $52,000 after purchasing an additional 5,811 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of E.W. Scripps by 50.8% during the fourth quarter. ProShare Advisors LLC now owns 17,268 shares of the company’s stock worth $38,000 after acquiring an additional 5,819 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of E.W. Scripps by 3.3% in the 4th quarter. Victory Capital Management Inc. now owns 211,740 shares of the company’s stock valued at $468,000 after purchasing an additional 6,840 shares in the last quarter. Diversified Trust Co grew its holdings in shares of E.W. Scripps by 36.6% during the 4th quarter. Diversified Trust Co now owns 25,644 shares of the company’s stock valued at $57,000 after purchasing an additional 6,868 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in E.W. Scripps by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 36,592 shares of the company’s stock worth $81,000 after purchasing an additional 7,418 shares during the last quarter. 67.81% of the stock is owned by hedge funds and other 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.