Lido Advisors LLC Has $17.77 Million Position in E.W. Scripps Company (The) (SSP)

Lido Advisors LLC increased its stake in E.W. Scripps Company (The) (NYSE:SSP) by 91.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,024,570 shares of the company’s stock after acquiring an additional 489,904 shares during the period. E.W. Scripps makes up approximately 3.0% of Lido Advisors LLC’s investment portfolio, making the stock its 7th biggest position. Lido Advisors LLC owned 1.25% of E.W. Scripps worth $17,765,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in shares of E.W. Scripps by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the company’s stock valued at $408,000 after buying an additional 100 shares during the period. Russell Investments Group Ltd. boosted its position in shares of E.W. Scripps by 61.2% during the second quarter. Russell Investments Group Ltd. now owns 235,691 shares of the company’s stock valued at $4,198,000 after buying an additional 89,503 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of E.W. Scripps by 28.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 16,480 shares of the company’s stock valued at $293,000 after buying an additional 3,600 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of E.W. Scripps by 3.8% during the second quarter. Great West Life Assurance Co. Can now owns 80,304 shares of the company’s stock valued at $1,429,000 after buying an additional 2,950 shares during the period. Finally, Texas Permanent School Fund boosted its position in shares of E.W. Scripps by 1.4% during the second quarter. Texas Permanent School Fund now owns 41,136 shares of the company’s stock valued at $733,000 after buying an additional 579 shares during the period. Institutional investors own 77.82% of the company’s stock.

E.W. Scripps Company (SSP) traded up $0.40 during trading on Tuesday, hitting $15.60. 353,300 shares of the stock traded hands, compared to its average volume of 504,357. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.42. E.W. Scripps Company has a 1 year low of $13.88 and a 1 year high of $24.15. The company has a market capitalization of $1,244.86, a P/E ratio of 31.02 and a beta of 1.93.

E.W. Scripps (NYSE:SSP) last posted its quarterly earnings results on Friday, November 3rd. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. E.W. Scripps had a net margin of 1.95% and a return on equity of 4.37%. The firm had revenue of $216.45 million during the quarter, compared to the consensus estimate of $219.04 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis. research analysts expect that E.W. Scripps Company will post -0.1 earnings per share for the current year.

Several research analysts have issued reports on the company. ValuEngine lowered E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Benchmark dropped their target price on E.W. Scripps from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Zacks Investment Research lowered E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Guggenheim assumed coverage on shares of E.W. Scripps in a research note on Wednesday, October 18th. They set a “neutral” rating and a $19.00 price target for the company. Finally, Noble Financial reaffirmed a “buy” rating on shares of E.W. Scripps in a research note on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.75.

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E.W. Scripps Profile

The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

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Institutional Ownership by Quarter for E.W. Scripps (NYSE:SSP)

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