Allspring Global Investments Holdings LLC Buys Shares of 33,287 The E.W. Scripps Company (NASDAQ:SSP)

Allspring Global Investments Holdings LLC purchased a new position in shares of The E.W. Scripps Company (NASDAQ:SSP) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 33,287 shares of the company’s stock, valued at approximately $105,000.

Several other hedge funds have also recently modified their holdings of SSP. Optas LLC acquired a new stake in E.W. Scripps in the second quarter valued at about $50,000. Nisa Investment Advisors LLC lifted its holdings in shares of E.W. Scripps by 423.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,741 shares of the company’s stock valued at $53,000 after buying an additional 13,541 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of E.W. Scripps by 1,619.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock valued at $6,918,000 after buying an additional 2,075,027 shares in the last quarter. CWM LLC grew its holdings in E.W. Scripps by 4,620.6% during the second quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after acquiring an additional 13,908 shares during the period. Finally, Virtu Financial LLC purchased a new position in E.W. Scripps in the first quarter worth $50,000. 67.81% of the stock is owned by institutional investors and hedge funds.

E.W. Scripps Stock Down 3.3 %

E.W. Scripps stock opened at $1.78 on Monday. The E.W. Scripps Company has a fifty-two week low of $1.77 and a fifty-two week high of $9.35. The firm has a market capitalization of $151.99 million, a price-to-earnings ratio of -0.15 and a beta of 1.73. The stock’s fifty day moving average is $2.77 and its two-hundred day moving average is $3.19. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.50 and a current ratio of 1.50.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The business had revenue of $573.63 million during the quarter, compared to analyst estimates of $586.65 million. E.W. Scripps had a negative net margin of 11.06% and a positive return on equity of 2.94%. During the same period in the previous year, the company posted ($0.09) earnings per share. Analysts predict that The E.W. Scripps Company will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SSP shares. StockNews.com lowered shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Benchmark lowered their target price on shares of E.W. Scripps from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Wells Fargo & Company reduced their price target on shares of E.W. Scripps from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Monday, May 13th.

E.W. Scripps Company Profile

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.