Lenox Wealth Management Inc. grew its position in shares of E. W. Scripps (NYSE:SSP) by 23.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,683 shares of the company’s stock after purchasing an additional 15,788 shares during the quarter. Lenox Wealth Management Inc.’s holdings in E. W. Scripps were worth $1,381,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SSP. LMR Partners LLP acquired a new stake in shares of E. W. Scripps during the 2nd quarter worth approximately $412,000. Price Capital Management Inc. acquired a new stake in shares of E. W. Scripps during the 2nd quarter worth approximately $488,000. California Public Employees Retirement System grew its position in shares of E. W. Scripps by 7.8% during the 1st quarter. California Public Employees Retirement System now owns 112,217 shares of the company’s stock worth $1,345,000 after buying an additional 8,117 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of E. W. Scripps by 19.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after buying an additional 17,580 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of E. W. Scripps by 24.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock worth $5,409,000 after buying an additional 80,377 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.

NYSE SSP opened at $17.59 on Tuesday. E. W. Scripps has a 12-month low of $10.69 and a 12-month high of $18.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.89 and a quick ratio of 2.89. The firm has a market capitalization of $1.02 billion, a P/E ratio of -45.10, a price-to-earnings-growth ratio of 3.19 and a beta of 2.03.

E. W. Scripps (NYSE:SSP) last posted its quarterly earnings results on Friday, August 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. E. W. Scripps had a negative net margin of 3.93% and a positive return on equity of 0.89%. The business had revenue of $283.40 million during the quarter, compared to the consensus estimate of $275.68 million. During the same quarter last year, the firm posted $0.10 EPS. E. W. Scripps’s revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts expect that E. W. Scripps will post 0.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 25th. Investors of record on Friday, September 14th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.14%. The ex-dividend date was Thursday, September 13th. E. W. Scripps’s payout ratio is currently -51.28%.

In related news, major shareholder Charles E. Scripps acquired 5,000 shares of the company’s stock in a transaction on Monday, September 17th. The shares were acquired at an average cost of $16.31 per share, for a total transaction of $81,550.00. Following the purchase, the insider now owns 678,824 shares in the company, valued at $11,071,619.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Mary Peirce acquired 8,795 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were bought at an average price of $16.33 per share, for a total transaction of $143,622.35. Following the completion of the purchase, the insider now owns 290,912 shares in the company, valued at approximately $4,750,592.96. The disclosure for this purchase can be found here. In the last three months, insiders purchased 175,643 shares of company stock valued at $2,900,767. 4.16% of the stock is currently owned by insiders.

Several analysts have recently commented on the stock. Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a research report on Friday. Zacks Investment Research raised shares of E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, October 9th. Benchmark reaffirmed a “buy” rating and set a $20.00 price objective on shares of E. W. Scripps in a research report on Thursday, October 18th. Finally, Stephens set a $15.00 price objective on shares of E. W. Scripps and gave the stock a “hold” rating in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. E. W. Scripps currently has a consensus rating of “Buy” and an average target price of $18.40.

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

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