Benchmark Issues Positive Forecast for E.W. Scripps (NASDAQ:SSP) Stock Price

E.W. Scripps (NASDAQ:SSP) had its price target hoisted by research analysts at Benchmark from $7.00 to $8.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price would indicate a potential upside of 190.38% from the stock’s current price.

E.W. Scripps Trading Up 34.4 %

Shares of SSP traded up $0.71 during mid-day trading on Thursday, hitting $2.76. 5,240,616 shares of the company’s stock traded hands, compared to its average volume of 920,917. The firm has a market capitalization of $237.93 million, a P/E ratio of -0.89 and a beta of 1.54. The business’s 50-day moving average price is $1.97 and its 200-day moving average price is $2.12. E.W. Scripps has a 1 year low of $1.36 and a 1 year high of $4.65. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41.

Institutional Investors Weigh In On E.W. Scripps

A number of large investors have recently modified their holdings of SSP. The Manufacturers Life Insurance Company bought a new stake in shares of E.W. Scripps during the fourth quarter valued at approximately $25,000. Heron Bay Capital Management purchased a new stake in shares of E.W. Scripps in the 4th quarter worth about $25,000. Public Employees Retirement System of Ohio purchased a new position in E.W. Scripps during the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC boosted its stake in E.W. Scripps by 137.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company’s stock worth $30,000 after acquiring an additional 7,927 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in E.W. Scripps in the fourth quarter worth about $30,000. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Company 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.