E. W. Scripps (NYSE:SSP) major shareholder Eaton M. Scripps bought 30,822 shares of the stock in a transaction on Friday, November 9th. The shares were acquired at an average cost of $17.26 per share, for a total transaction of $531,987.72. Following the purchase, the insider now owns 888,793 shares in the company, valued at $15,340,567.18. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Eaton M. Scripps also recently made the following trade(s):
- On Friday, October 26th, Eaton M. Scripps bought 27,976 shares of E. W. Scripps stock. The shares were acquired at an average cost of $16.18 per share, for a total transaction of $452,651.68.
Shares of E. W. Scripps stock traded down $0.89 during trading on Friday, hitting $16.85. 1,467,184 shares of the stock traded hands, compared to its average volume of 438,715. E. W. Scripps has a twelve month low of $10.69 and a twelve month high of $18.44.
E. W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Friday, November 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $302.70 million for the quarter, compared to analyst estimates of $292.22 million. The firm’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.19%.
SSP has been the topic of several research analyst reports. Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a research note on Friday, October 19th. Zacks Investment Research raised E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, August 7th. Finally, Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of E. W. Scripps in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.40.
Institutional investors have recently made changes to their positions in the company. LMR Partners LLP acquired a new stake in shares of E. W. Scripps during the 2nd quarter valued at about $412,000. Price Capital Management Inc. acquired a new stake in shares of E. W. Scripps during the 2nd quarter valued at about $488,000. Lenox Wealth Management Inc. lifted its holdings in shares of E. W. Scripps by 23.3% during the 3rd quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock valued at $1,381,000 after buying an additional 15,788 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of E. W. Scripps by 19.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock valued at $1,422,000 after buying an additional 17,580 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of E. W. Scripps by 7.8% during the 1st quarter. California Public Employees Retirement System now owns 112,217 shares of the company’s stock valued at $1,345,000 after buying an additional 8,117 shares during the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.
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About E. W. Scripps
The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.
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