E. W. Scripps (NYSE:SSP) major shareholder Eaton M. Scripps acquired 20,253 shares of E. W. Scripps stock in a transaction that occurred on Friday, November 23rd. The stock was acquired at an average cost of $17.18 per share, for a total transaction of $347,946.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Eaton M. Scripps also recently made the following trade(s):
- On Friday, October 26th, Eaton M. Scripps acquired 27,976 shares of E. W. Scripps stock. The stock was acquired at an average cost of $16.18 per share, for a total transaction of $452,651.68.
Shares of SSP stock traded down $0.08 during mid-day trading on Friday, reaching $17.03. 15,681 shares of the stock traded hands, compared to its average volume of 448,517. E. W. Scripps has a 1-year low of $10.69 and a 1-year high of $18.44.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 13th.
Several hedge funds have recently made changes to their positions in SSP. Price Capital Management Inc. bought a new position in shares of E. W. Scripps during the second quarter worth about $488,000. LMR Partners LLP bought a new position in shares of E. W. Scripps during the second quarter worth about $412,000. Bank of New York Mellon Corp raised its position in shares of E. W. Scripps by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock worth $33,678,000 after acquiring an additional 79,568 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of E. W. Scripps by 24.8% during the second quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock worth $5,409,000 after acquiring an additional 80,377 shares during the last quarter. Finally, Cove Street Capital LLC raised its position in shares of E. W. Scripps by 8.8% during the second quarter. Cove Street Capital LLC now owns 4,025,431 shares of the company’s stock worth $53,901,000 after acquiring an additional 326,712 shares during the last quarter. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on SSP shares. Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a research note on Wednesday, November 7th. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of E. W. Scripps in a research note on Thursday, October 18th. Zacks Investment Research lowered E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, Stephens set a $15.00 price target on E. W. Scripps and gave the company a “hold” rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $18.80.
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.
Further Reading: Reverse Stock Split
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