Scripps Networks Interactive, Inc. (SNI) Major Shareholder Sells $3,299,550.66 in Stock

Scripps Networks Interactive, Inc. (NASDAQ:SNI) major shareholder Margaret Scripps Klenzing sold 46,466 shares of Scripps Networks Interactive stock in a transaction on Monday, May 8th. The stock was sold at an average price of $71.01, for a total transaction of $3,299,550.66. Following the sale, the insider now directly owns 10,013 shares of the company’s stock, valued at approximately $711,023.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Scripps Networks Interactive, Inc. (NASDAQ:SNI) traded up 1.31% during trading on Friday, reaching $67.49. 449,493 shares of the company traded hands. The stock has a market capitalization of $8.76 billion, a PE ratio of 15.08 and a beta of 1.16. The firm’s 50-day moving average is $73.58 and its 200-day moving average is $73.95. Scripps Networks Interactive, Inc. has a 12-month low of $58.73 and a 12-month high of $83.42.

Scripps Networks Interactive (NASDAQ:SNI) last released its earnings results on Thursday, May 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.35. Scripps Networks Interactive had a net margin of 23.37% and a return on equity of 34.21%. The company had revenue of $855 million for the quarter, compared to analysts’ expectations of $856.98 million. During the same quarter last year, the business earned $1.37 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Scripps Networks Interactive, Inc. will post $5.50 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Scripps Networks Interactive (NASDAQ:SNI)

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, May 26th. Scripps Networks Interactive’s payout ratio is 16.53%.

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SNI has been the topic of several analyst reports. MKM Partners reissued a “neutral” rating on shares of Scripps Networks Interactive in a research report on Thursday, February 23rd. Zacks Investment Research cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research report on Thursday, February 23rd. Stifel Nicolaus boosted their price objective on shares of Scripps Networks Interactive from $75.00 to $90.00 and gave the stock a “positive” rating in a research note on Wednesday, February 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $87.00 price objective (up from $70.00) on shares of Scripps Networks Interactive in a research note on Wednesday, February 22nd. Finally, Guggenheim restated a “neutral” rating and set a $82.00 price objective on shares of Scripps Networks Interactive in a research note on Wednesday, February 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $77.42.

A number of large investors have recently made changes to their positions in the stock. TCW Group Inc. bought a new stake in shares of Scripps Networks Interactive during the fourth quarter worth about $1,013,000. Envestnet Asset Management Inc. raised its position in Scripps Networks Interactive by 12.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 207,057 shares of the company’s stock worth $14,777,000 after buying an additional 22,577 shares during the period. State Board of Administration of Florida Retirement System raised its position in Scripps Networks Interactive by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 122,281 shares of the company’s stock worth $8,727,000 after buying an additional 398 shares during the period. Shell Asset Management Co. raised its position in Scripps Networks Interactive by 14.5% in the third quarter. Shell Asset Management Co. now owns 21,413 shares of the company’s stock worth $1,360,000 after buying an additional 2,704 shares during the period. Finally, Capital International Investors raised its position in Scripps Networks Interactive by 26.7% in the third quarter. Capital International Investors now owns 1,927,750 shares of the company’s stock worth $122,393,000 after buying an additional 406,250 shares during the period. 66.76% of the stock is owned by institutional investors and hedge funds.

About Scripps Networks Interactive

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.

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