Los Angeles Capital Management LLC Raises Position in The E.W. Scripps Company (NASDAQ:SSP)

Los Angeles Capital Management LLC boosted its holdings in The E.W. Scripps Company (NASDAQ:SSP) by 33.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,906 shares of the company’s stock after buying an additional 41,525 shares during the period. Los Angeles Capital Management LLC owned approximately 0.19% of E.W. Scripps worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of SSP. Sei Investments Co. purchased a new position in E.W. Scripps in the 2nd quarter valued at approximately $38,000. Vanguard Personalized Indexing Management LLC purchased a new position in E.W. Scripps in the 2nd quarter valued at approximately $39,000. Diversified Trust Co purchased a new position in E.W. Scripps in the 3rd quarter valued at approximately $42,000. CWM LLC grew its stake in E.W. Scripps by 4,620.6% in the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock valued at $45,000 after buying an additional 13,908 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in E.W. Scripps in the 1st quarter valued at approximately $50,000. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

E.W. Scripps Price Performance

SSP stock opened at $1.76 on Monday. The firm’s 50-day moving average price is $2.33 and its two-hundred day moving average price is $2.66. The E.W. Scripps Company has a 12-month low of $1.68 and a 12-month high of $9.35. The stock has a market capitalization of $151.57 million, a price-to-earnings ratio of -0.57 and a beta of 1.66. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The firm had revenue of $646.30 million during the quarter, compared to analysts’ expectations of $634.01 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. As a group, equities analysts predict that The E.W. Scripps Company will post 1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SSP. Benchmark reduced their price target on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

About E.W. Scripps

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.