Noble Financial Reiterates “Buy” Rating for E. W. Scripps (NYSE:SSP)

Noble Financial reissued their buy rating on shares of E. W. Scripps (NYSE:SSP) in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $20.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Guggenheim reissued a neutral rating and issued a $14.00 target price (down previously from $22.00) on shares of E. W. Scripps in a research note on Monday, August 12th. Wells Fargo & Co initiated coverage on E. W. Scripps in a research report on Monday, September 23rd. They set an outperform rating and a $17.00 price target on the stock. Benchmark dropped their price target on E. W. Scripps from $25.00 to $24.00 and set a buy rating on the stock in a research report on Monday, November 11th. Finally, Zacks Investment Research raised E. W. Scripps from a sell rating to a hold rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $17.60.

NYSE:SSP traded up $0.13 during mid-day trading on Wednesday, hitting $14.37. The company had a trading volume of 268,995 shares, compared to its average volume of 402,993. E. W. Scripps has a fifty-two week low of $11.36 and a fifty-two week high of $23.41. The business’s fifty day moving average is $13.53 and its two-hundred day moving average is $14.77.

In other news, major shareholder Corina S. Granado purchased 38,117 shares of the stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $11.91 per share, for a total transaction of $453,973.47. Following the acquisition, the insider now directly owns 448,569 shares of the company’s stock, valued at approximately $5,342,456.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.16% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC purchased a new position in shares of E. W. Scripps in the 2nd quarter valued at about $472,000. Nisa Investment Advisors LLC raised its holdings in E. W. Scripps by 13.5% in the second quarter. Nisa Investment Advisors LLC now owns 12,600 shares of the company’s stock valued at $193,000 after buying an additional 1,500 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of E. W. Scripps by 25.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 20,830 shares of the company’s stock valued at $319,000 after purchasing an additional 4,220 shares during the period. Capital Fund Management S.A. bought a new stake in shares of E. W. Scripps in the second quarter worth $177,000. Finally, Marshall Wace North America L.P. acquired a new position in E. W. Scripps in the second quarter worth $274,000. Institutional investors own 77.70% of the company’s stock.

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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Analyst Recommendations for E. W. Scripps (NYSE:SSP)

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