Municipal Employees Retirement System of Michigan Has $466,000 Position in E. W. Scripps Co (SSP)

Municipal Employees Retirement System of Michigan raised its holdings in shares of E. W. Scripps Co (NYSE:SSP) by 48.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,400 shares of the company’s stock after acquiring an additional 7,920 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in E. W. Scripps were worth $466,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SSP. Louisiana State Employees Retirement System grew its stake in E. W. Scripps by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the company’s stock valued at $408,000 after acquiring an additional 100 shares in the last quarter. Russell Investments Group Ltd. grew its stake in E. W. Scripps by 61.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 235,691 shares of the company’s stock valued at $4,198,000 after acquiring an additional 89,503 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in E. W. Scripps by 3.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 80,304 shares of the company’s stock valued at $1,429,000 after acquiring an additional 2,950 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of E. W. Scripps by 1.4% in the 2nd quarter. Texas Permanent School Fund now owns 41,136 shares of the company’s stock valued at $733,000 after buying an additional 579 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of E. W. Scripps by 1.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 256,918 shares of the company’s stock valued at $4,576,000 after buying an additional 4,392 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

E. W. Scripps Co (SSP) traded down $0.09 on Thursday, reaching $15.27. The company had a trading volume of 317,000 shares, compared to its average volume of 502,374. E. W. Scripps Co has a 12-month low of $13.88 and a 12-month high of $24.15. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1,257.97, a price-to-earnings ratio of 31.35 and a beta of 1.93.

E. W. Scripps (NYSE:SSP) last posted its earnings results on Friday, November 3rd. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. E. W. Scripps had a return on equity of 4.37% and a net margin of 1.95%. The firm had revenue of $216.45 million during the quarter, compared to analyst estimates of $219.04 million. During the same period in the previous year, the company earned $0.15 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. research analysts expect that E. W. Scripps Co will post -0.1 EPS for the current year.

Several brokerages recently commented on SSP. Noble Financial reissued a “buy” rating on shares of E. W. Scripps in a research note on Wednesday, October 4th. Jefferies Group reissued a “hold” rating and issued a $20.00 price target on shares of E. W. Scripps in a research note on Wednesday, August 16th. Guggenheim began coverage on E. W. Scripps in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $19.00 price target for the company. Zacks Investment Research cut E. W. Scripps from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Finally, Benchmark lowered their price target on E. W. Scripps from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. E. W. Scripps currently has a consensus rating of “Hold” and a consensus price target of $19.75.

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E. W. Scripps Profile

The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

Institutional Ownership by Quarter for E. W. Scripps (NYSE:SSP)

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