Shares of E. W. Scripps (NYSE:SSP) have earned an average rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $22.00.
A number of research analysts recently weighed in on SSP shares. Noble Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of E. W. Scripps in a research report on Wednesday. Zacks Investment Research raised shares of E. W. Scripps from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Saturday, February 2nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $22.00) on shares of E. W. Scripps in a research report on Monday, March 4th.
Shares of NYSE:SSP traded down $0.59 during midday trading on Thursday, reaching $16.92. 583,054 shares of the company were exchanged, compared to its average volume of 454,828. E. W. Scripps has a fifty-two week low of $12.16 and a fifty-two week high of $23.41.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Friday, June 14th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, June 13th.
In other news, CFO Lisa A. Knutson sold 4,406 shares of E. W. Scripps stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.41, for a total value of $94,332.46. Following the completion of the transaction, the chief financial officer now owns 39,794 shares of the company’s stock, valued at approximately $851,989.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Mary Peirce acquired 8,099 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was purchased at an average cost of $19.96 per share, with a total value of $161,656.04. Following the transaction, the insider now owns 54,274 shares in the company, valued at $1,083,309.04. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 16,806 shares of company stock valued at $345,847. 4.16% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SSP. Meeder Asset Management Inc. acquired a new stake in E. W. Scripps in the 4th quarter worth about $52,000. Marshall Wace North America L.P. bought a new stake in shares of E. W. Scripps during the 3rd quarter valued at approximately $174,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of E. W. Scripps by 349.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,897 shares of the company’s stock valued at $219,000 after purchasing an additional 10,808 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of E. W. Scripps by 171.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,557 shares of the company’s stock valued at $222,000 after purchasing an additional 6,672 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of E. W. Scripps during the 4th quarter valued at approximately $261,000. 77.70% of the stock is owned by institutional investors.
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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