Mary Peirce Purchases 15,411 Shares of E. W. Scripps (SSP) Stock

E. W. Scripps (NYSE:SSP) major shareholder Mary Peirce bought 15,411 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was acquired at an average cost of $17.72 per share, with a total value of $273,082.92. Following the transaction, the insider now owns 373,126 shares in the company, valued at approximately $6,611,792.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mary Peirce also recently made the following trade(s):

  • On Wednesday, October 24th, Mary Peirce bought 13,988 shares of E. W. Scripps stock. The stock was acquired at an average cost of $16.60 per share, with a total value of $232,200.80.
  • On Wednesday, October 17th, Mary Peirce bought 14,858 shares of E. W. Scripps stock. The stock was acquired at an average cost of $16.62 per share, with a total value of $246,939.96.
  • On Wednesday, October 10th, Mary Peirce bought 13,846 shares of E. W. Scripps stock. The stock was acquired at an average cost of $16.80 per share, with a total value of $232,612.80.
  • On Wednesday, October 3rd, Mary Peirce bought 13,050 shares of E. W. Scripps stock. The stock was acquired at an average cost of $16.51 per share, with a total value of $215,455.50.
  • On Wednesday, September 26th, Mary Peirce bought 11,061 shares of E. W. Scripps stock. The stock was acquired at an average cost of $16.43 per share, with a total value of $181,732.23.
  • On Wednesday, September 19th, Mary Peirce bought 8,795 shares of E. W. Scripps stock. The stock was acquired at an average cost of $16.33 per share, with a total value of $143,622.35.

NYSE SSP opened at $16.85 on Friday. E. W. Scripps has a 52 week low of $10.69 and a 52 week high of $18.44.

E. W. Scripps (NYSE:SSP) last released its quarterly earnings results on Friday, November 9th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The business had revenue of $302.70 million for the quarter, compared to analysts’ expectations of $292.22 million. During the same period in the previous year, the company earned ($0.03) EPS. E. W. Scripps’s revenue for the quarter was up 51.0% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, December 13th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSP. LMR Partners LLP purchased a new stake in shares of E. W. Scripps during the 2nd quarter valued at about $412,000. Price Capital Management Inc. purchased a new stake in shares of E. W. Scripps during the 2nd quarter valued at about $488,000. California Public Employees Retirement System increased its position in shares of E. W. Scripps by 7.8% during the 1st quarter. California Public Employees Retirement System now owns 112,217 shares of the company’s stock valued at $1,345,000 after purchasing an additional 8,117 shares during the last quarter. Lenox Wealth Management Inc. increased its position in shares of E. W. Scripps by 23.3% during the 3rd quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock valued at $1,381,000 after purchasing an additional 15,788 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of E. W. Scripps by 19.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock valued at $1,422,000 after purchasing an additional 17,580 shares during the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on SSP shares. Noble Financial reissued a “buy” rating and issued a $19.00 target price on shares of E. W. Scripps in a research report on Wednesday, August 1st. Stephens set a $15.00 target price on E. W. Scripps and gave the stock a “hold” rating in a research report on Tuesday, August 7th. Zacks Investment Research raised E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research report on Tuesday, August 7th. Finally, Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of E. W. Scripps in a research report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.40.

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About E. W. Scripps

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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