Gateway Investment Advisers LLC Cuts Position in Scripps Networks Interactive, Inc (SNI)

Gateway Investment Advisers LLC cut its stake in Scripps Networks Interactive, Inc (NASDAQ:SNI) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,238 shares of the company’s stock after selling 201 shares during the period. Gateway Investment Advisers LLC’s holdings in Scripps Networks Interactive were worth $494,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in Scripps Networks Interactive by 4,188.7% in the first quarter. BlackRock Inc. now owns 7,146,555 shares of the company’s stock valued at $560,078,000 after buying an additional 6,979,918 shares during the period. WINTON GROUP Ltd increased its position in Scripps Networks Interactive by 114.5% in the first quarter. WINTON GROUP Ltd now owns 670,023 shares of the company’s stock valued at $42,540,000 after buying an additional 357,704 shares during the period. Bank of New York Mellon Corp increased its position in Scripps Networks Interactive by 40.5% in the first quarter. Bank of New York Mellon Corp now owns 1,166,026 shares of the company’s stock valued at $91,381,000 after buying an additional 335,940 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Scripps Networks Interactive during the first quarter valued at about $24,593,000. Finally, American Century Companies Inc. boosted its stake in shares of Scripps Networks Interactive by 22.2% in the first quarter. American Century Companies Inc. now owns 1,639,158 shares of the company’s stock valued at $128,461,000 after buying an additional 297,358 shares in the last quarter. 70.48% of the stock is owned by institutional investors.

Scripps Networks Interactive, Inc (SNI) opened at 86.66 on Friday. Scripps Networks Interactive, Inc has a 12-month low of $59.32 and a 12-month high of $88.45. The firm has a 50 day moving average of $76.59 and a 200-day moving average of $74.68. The stock has a market cap of $11.25 billion, a PE ratio of 17.88 and a beta of 1.49.

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SNI has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Scripps Networks Interactive from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co restated an “overweight” rating and set a $83.00 target price on shares of Scripps Networks Interactive in a research report on Monday, July 10th. Wells Fargo & Company initiated coverage on shares of Scripps Networks Interactive in a research report on Thursday, July 20th. They issued a “market perform” rating and a $82.00 price objective on the stock. Moffett Nathanson reissued a “sell” rating on shares of Scripps Networks Interactive in a research report on Friday, June 9th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Scripps Networks Interactive and gave the stock a “hold” rating in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Scripps Networks Interactive currently has a consensus rating of “Hold” and a consensus price target of $83.50.

In related news, major shareholder Edward W. Scripps sold 300,000 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $66.96, for a total transaction of $20,088,000.00. Following the completion of the sale, the insider now owns 232,071 shares in the company, valued at approximately $15,539,474.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey Sagansky sold 1,159 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $87.83, for a total transaction of $101,794.97. Following the sale, the director now owns 9,457 shares of the company’s stock, valued at approximately $830,608.31. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

About Scripps Networks Interactive

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.

Institutional Ownership by Quarter for Scripps Networks Interactive (NASDAQ:SNI)

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