Thrivent Financial for Lutherans Cuts Stock Position in E.W. Scripps Company (The) $SSP

Thrivent Financial for Lutherans reduced its position in shares of E.W. Scripps Company (The) (NASDAQ:SSP) by 52.4% in the third quarter, Holdings Channel reports. The firm owned 167,731 shares of the company’s stock after selling 184,549 shares during the quarter. Thrivent Financial for Lutherans’ holdings in E.W. Scripps were worth $412,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Prudential Financial Inc. boosted its position in E.W. Scripps by 2.4% in the second quarter. Prudential Financial Inc. now owns 182,344 shares of the company’s stock worth $536,000 after purchasing an additional 4,342 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of E.W. Scripps by 28.9% in the second quarter. Chicago Partners Investment Group LLC now owns 21,121 shares of the company’s stock worth $62,000 after purchasing an additional 4,730 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in E.W. Scripps by 17.4% during the second quarter. BNP Paribas Financial Markets now owns 68,209 shares of the company’s stock valued at $201,000 after acquiring an additional 10,110 shares during the period. Geode Capital Management LLC lifted its position in shares of E.W. Scripps by 0.7% in the second quarter. Geode Capital Management LLC now owns 1,516,298 shares of the company’s stock valued at $4,459,000 after acquiring an additional 10,957 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of E.W. Scripps by 54.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 33,789 shares of the company’s stock worth $99,000 after acquiring an additional 11,964 shares during the period. Hedge funds and other institutional investors own 67.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SSP. Wells Fargo & Company lifted their target price on E.W. Scripps from $3.00 to $3.90 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of E.W. Scripps in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.95.

E.W. Scripps Stock Performance

Shares of NASDAQ:SSP opened at $3.43 on Wednesday. The firm has a fifty day simple moving average of $3.82 and a two-hundred day simple moving average of $3.29. E.W. Scripps Company has a 52 week low of $1.36 and a 52 week high of $4.98. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 3.13. The stock has a market capitalization of $304.58 million, a P/E ratio of -7.80 and a beta of 0.62.

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.