Penn Capital Management Company LLC Has $13.11 Million Position in E.W. Scripps Company (The) $SSP

Penn Capital Management Company LLC lowered its stake in shares of E.W. Scripps Company (The) (NASDAQ:SSP) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,282,529 shares of the company’s stock after selling 317,077 shares during the period. Penn Capital Management Company LLC owned about 3.70% of E.W. Scripps worth $13,111,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. D Orazio & Associates Inc. acquired a new stake in shares of E.W. Scripps during the 3rd quarter valued at $27,000. M&T Bank Corp acquired a new stake in shares of E.W. Scripps during the 4th quarter valued at $47,000. State of Alaska Department of Revenue acquired a new stake in shares of E.W. Scripps during the 4th quarter valued at $47,000. Franklin Resources Inc. acquired a new stake in shares of E.W. Scripps during the 3rd quarter valued at $30,000. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of E.W. Scripps during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 67.81% of the company’s stock.

Insider Activity

In other news, major shareholder Margaret Scripps Klenzing bought 159,515 shares of the business’s stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $4.64 per share, with a total value of $740,149.60. Following the transaction, the insider directly owned 741,978 shares in the company, valued at approximately $3,442,777.92. The trade was a 27.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Samantha J. Brickner bought 63,955 shares of the business’s stock in a transaction on Monday, March 9th. The shares were purchased at an average cost of $4.43 per share, with a total value of $283,320.65. Following the transaction, the insider owned 64,021 shares in the company, valued at approximately $283,613.03. The trade was a 96,901.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 1,333,347 shares of company stock worth $5,738,221 and sold 326,675 shares worth $1,117,887. Insiders own 5.24% of the company’s stock.

E.W. Scripps Price Performance

E.W. Scripps stock opened at $3.42 on Wednesday. The firm has a market cap of $313.07 million, a price-to-earnings ratio of -1.85 and a beta of 0.72. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.58 and a quick ratio of 1.58. E.W. Scripps Company has a fifty-two week low of $2.02 and a fifty-two week high of $5.39. The firm has a fifty day moving average price of $4.02 and a two-hundred day moving average price of $3.92.

E.W. Scripps (NASDAQ:SSP) last released its earnings results on Friday, May 8th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.32. The firm had revenue of $516.87 million during the quarter, compared to analyst estimates of $516.86 million. E.W. Scripps had a negative net margin of 4.63% and a negative return on equity of 0.56%. As a group, analysts forecast that E.W. Scripps Company will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SSP. Guggenheim reissued a “neutral” rating on shares of E.W. Scripps in a research note on Friday, March 6th. Zacks Research raised shares of E.W. Scripps from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Benchmark reduced their price objective on shares of E.W. Scripps from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, E.W. Scripps has a consensus rating of “Hold” and an average price target of $5.95.

About E.W. Scripps

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.