E. W. Scripps (NYSE:SSP) major shareholder Eaton M. Scripps acquired 37,836 shares of the company’s stock in a transaction on Friday, December 7th. The stock was acquired at an average price of $17.15 per share, with a total value of $648,887.40. Following the acquisition, the insider now owns 1,016,481 shares in the company, valued at approximately $17,432,649.15. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Eaton M. Scripps also recently made the following trade(s):
- On Friday, October 26th, Eaton M. Scripps acquired 27,976 shares of E. W. Scripps stock. The stock was acquired at an average price of $16.18 per share, with a total value of $452,651.68.
Shares of SSP traded down $0.40 on Friday, reaching $16.86. The stock had a trading volume of 379,523 shares, compared to its average volume of 447,877. E. W. Scripps has a 12-month low of $10.69 and a 12-month high of $18.44.
E. W. Scripps (NYSE:SSP) last released its earnings results on Friday, November 9th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. The firm had revenue of $302.70 million during the quarter, compared to analysts’ expectations of $292.22 million. The company’s revenue for the quarter was up 51.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 13th.
A number of research firms have recently commented on SSP. Noble Financial restated a “buy” rating on shares of E. W. Scripps in a research note on Wednesday, November 7th. Wolfe Research began coverage on E. W. Scripps in a research note on Friday. They issued a “market perform” rating for the company. Zacks Investment Research cut E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 8th. Gabelli began coverage on E. W. Scripps in a research note on Tuesday, November 27th. They issued a “buy” rating for the company. Finally, Benchmark restated a “buy” rating and issued a $22.00 target price on shares of E. W. Scripps in a research note on Monday, November 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. E. W. Scripps currently has an average rating of “Hold” and an average price target of $18.80.
Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in E. W. Scripps by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock valued at $33,678,000 after buying an additional 79,568 shares during the last quarter. Litespeed Management L.L.C. raised its stake in E. W. Scripps by 3.6% during the second quarter. Litespeed Management L.L.C. now owns 433,529 shares of the company’s stock valued at $5,805,000 after buying an additional 15,000 shares during the last quarter. Cove Street Capital LLC raised its stake in E. W. Scripps by 8.8% during the second quarter. Cove Street Capital LLC now owns 4,025,431 shares of the company’s stock valued at $53,901,000 after buying an additional 326,712 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in E. W. Scripps by 19.8% during the second quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock valued at $1,422,000 after buying an additional 17,580 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in E. W. Scripps by 24.8% during the second quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock valued at $5,409,000 after buying an additional 80,377 shares during the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.
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E. W. Scripps Company Profile
The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.
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