American Century Companies Inc. Purchases 13,156 Shares of The E.W. Scripps Company (NASDAQ:SSP)

American Century Companies Inc. grew its position in shares of The E.W. Scripps Company (NASDAQ:SSP) by 17.3% in the second quarter, Holdings Channel reports. The fund owned 89,180 shares of the company’s stock after buying an additional 13,156 shares during the quarter. American Century Companies Inc.’s holdings in E.W. Scripps were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in E.W. Scripps by 532,086.1% in the second quarter. Acadian Asset Management LLC now owns 191,587 shares of the company’s stock worth $599,000 after buying an additional 191,551 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in E.W. Scripps in the second quarter worth $394,000. Allspring Global Investments Holdings LLC bought a new stake in E.W. Scripps in the second quarter worth $105,000. Optas LLC bought a new stake in E.W. Scripps in the second quarter worth $50,000. Finally, Nisa Investment Advisors LLC lifted its position in E.W. Scripps by 423.2% in the second quarter. Nisa Investment Advisors LLC now owns 16,741 shares of the company’s stock worth $53,000 after buying an additional 13,541 shares during the last quarter. 67.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on SSP. Benchmark lowered their price target on E.W. Scripps from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 12th. StockNews.com lowered E.W. Scripps from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th.

E.W. Scripps Stock Performance

SSP stock opened at $2.58 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.79. The business’s fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $2.90. The E.W. Scripps Company has a twelve month low of $1.68 and a twelve month high of $9.35. The firm has a market cap of $220.31 million, a price-to-earnings ratio of -0.22 and a beta of 1.74.

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

E.W. Scripps 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.