Point72 Asia Singapore Pte. Ltd. bought a new position in shares of The E.W. Scripps Company (NASDAQ:SSP – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 20,943 shares of the company’s stock, valued at approximately $66,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. acquired a new position in shares of E.W. Scripps during the second quarter worth $38,000. Vanguard Personalized Indexing Management LLC purchased a new stake in E.W. Scripps in the second quarter valued at $39,000. CWM LLC lifted its position in E.W. Scripps by 4,620.6% in the second quarter. CWM LLC now owns 14,209 shares of the company’s stock valued at $45,000 after acquiring an additional 13,908 shares during the last quarter. Virtu Financial LLC purchased a new stake in E.W. Scripps in the first quarter valued at $50,000. Finally, Optas LLC purchased a new stake in E.W. Scripps in the second quarter valued at $50,000. Institutional investors and hedge funds own 67.81% of the company’s stock.
E.W. Scripps Price Performance
Shares of NASDAQ:SSP opened at $2.58 on Friday. The company has a 50-day simple moving average of $2.26 and a 200-day simple moving average of $2.89. The E.W. Scripps Company has a one year low of $1.68 and a one year high of $9.35. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $220.31 million, a price-to-earnings ratio of -0.22 and a beta of 1.74.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on SSP shares. Benchmark reduced their price target on shares of 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 cut shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th.
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.
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