Kennedy Capital Management LLC Sells 363,095 Shares of The E.W. Scripps Company (NASDAQ:SSP)

Kennedy Capital Management LLC decreased its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 23.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,202,815 shares of the company’s stock after selling 363,095 shares during the period. Kennedy Capital Management LLC owned about 1.42% of E.W. Scripps worth $4,727,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in E.W. Scripps by 1,394.8% during the fourth quarter. Quadrant Capital Group LLC now owns 4,350 shares of the company’s stock valued at $35,000 after purchasing an additional 4,059 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of E.W. Scripps in the first quarter worth $40,000. Nisa Investment Advisors LLC increased its stake in shares of E.W. Scripps by 93.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,210 shares of the company’s stock worth $42,000 after purchasing an additional 2,517 shares in the last quarter. SageView Advisory Group LLC purchased a new position in E.W. Scripps during the fourth quarter valued at $82,000. Finally, RPO LLC purchased a new position in E.W. Scripps during the fourth quarter valued at $86,000. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Trading Down 0.8 %

E.W. Scripps stock traded down $0.03 during midday trading on Tuesday, hitting $3.73. 309,226 shares of the stock were exchanged, compared to its average volume of 968,308. The E.W. Scripps Company has a fifty-two week low of $1.96 and a fifty-two week high of $11.02. The stock has a market capitalization of $318.50 million, a price-to-earnings ratio of -0.32 and a beta of 1.79. The stock’s 50-day simple moving average is $2.84 and its 200 day simple moving average is $4.18. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 3.82.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). E.W. Scripps had a negative net margin of 39.87% and a positive return on equity of 3.17%. The business had revenue of $561.46 million during the quarter, compared to analysts’ expectations of $571.01 million. On average, equities analysts anticipate that The E.W. Scripps Company will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

SSP has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $14.00 price objective on shares of E.W. Scripps in a research note on Monday, May 13th. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a report on Friday, May 17th. 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 report on Monday, May 13th.

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.