E. W. Scripps (NYSE:SSP) was the target of unusually large options trading on Tuesday. Investors purchased 1,020 call options on the stock. This represents an increase of approximately 1,900% compared to the average daily volume of 51 call options.
In related news, major shareholder Charles E. Scripps purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was acquired at an average price of $16.31 per share, for a total transaction of $81,550.00. Following the completion of the acquisition, the insider now owns 678,824 shares of the company’s stock, valued at approximately $11,071,619.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Mary Peirce purchased 8,795 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were bought at an average price of $16.33 per share, with a total value of $143,622.35. Following the acquisition, the insider now directly owns 290,912 shares of the company’s stock, valued at approximately $4,750,592.96. The disclosure for this purchase can be found here. Insiders have purchased 36,385 shares of company stock valued at $598,290 in the last quarter. 4.16% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SSP. New York State Common Retirement Fund lifted its position in shares of E. W. Scripps by 14.8% during the 1st quarter. New York State Common Retirement Fund now owns 323,388 shares of the company’s stock valued at $3,877,000 after buying an additional 41,675 shares during the last quarter. California Public Employees Retirement System lifted 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 valued at $1,345,000 after buying an additional 8,117 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of E. W. Scripps by 1,024.7% during the 1st quarter. Quantbot Technologies LP now owns 34,752 shares of the company’s stock valued at $416,000 after buying an additional 31,662 shares during the last quarter. Cove Street Capital LLC lifted its position in shares of E. W. Scripps by 17.9% during the 1st quarter. Cove Street Capital LLC now owns 3,698,719 shares of the company’s stock valued at $44,347,000 after buying an additional 561,729 shares during the last quarter. Finally, Price Capital Management Inc. purchased a new position in shares of E. W. Scripps during the 2nd quarter valued at $488,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SSP opened at $16.19 on Thursday. E. W. Scripps has a one year low of $10.69 and a one year high of $19.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.89 and a current ratio of 2.89. The firm has a market cap of $1.02 billion, a PE ratio of -41.51, a PEG ratio of 3.19 and a beta of 2.03.
E. W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, August 3rd. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. E. W. Scripps had a positive return on equity of 0.89% and a negative net margin of 3.93%. The firm had revenue of $283.40 million for the quarter, compared to analysts’ expectations of $275.68 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. research analysts expect that E. W. Scripps will post 0.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Friday, September 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.24%. E. W. Scripps’s dividend payout ratio is presently -51.28%.
SSP has been the subject of several recent research reports. Noble Financial set a $19.00 price target on E. W. Scripps and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Stephens set a $15.00 price target on E. W. Scripps and gave the stock a “hold” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research downgraded E. W. Scripps from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.80.
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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