Corina S. Granado Purchases 18,918 Shares of E. W. Scripps (SSP) Stock

E. W. Scripps (NYSE:SSP) major shareholder Corina S. Granado purchased 18,918 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average cost of $17.58 per share, for a total transaction of $332,578.44. Following the purchase, the insider now owns 391,817 shares of the company’s stock, valued at $6,888,142.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of SSP opened at $17.21 on Thursday. 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 earnings results on Friday, November 9th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $302.70 million during the quarter, compared to analysts’ expectations of $292.22 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s revenue was up 51.0% compared to the same quarter last year.



The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, December 13th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC raised its stake in shares of E. W. Scripps by 50.0% in the third quarter. MetLife Investment Advisors LLC now owns 32,433 shares of the company’s stock valued at $535,000 after acquiring an additional 10,808 shares during the period. Bank of New York Mellon Corp raised its stake in shares of E. W. Scripps by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 2,581,130 shares of the company’s stock valued at $42,588,000 after acquiring an additional 65,986 shares during the period. Lenox Wealth Management Inc. raised its stake in shares of E. W. Scripps by 23.3% in the third quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock valued at $1,381,000 after acquiring an additional 15,788 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of E. W. Scripps by 19.8% in the second quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock valued at $1,422,000 after acquiring an additional 17,580 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of E. W. Scripps by 5.8% in the second quarter. California Public Employees Retirement System now owns 118,693 shares of the company’s stock valued at $1,589,000 after acquiring an additional 6,476 shares during the period. 77.70% of the stock is currently owned by institutional investors and hedge funds.

SSP has been the topic of a number of recent research reports. Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a research note on Friday, October 19th. Gabelli initiated coverage on shares of E. W. Scripps in a research note on Tuesday, November 27th. They set a “buy” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $22.00 price target on shares of E. W. Scripps in a research note on Monday, November 12th. Finally, Zacks Investment Research downgraded shares of E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $18.80.

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E. W. Scripps Company Profile

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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