E. W. Scripps (SSP) CFO Sells $94,332.46 in Stock

E. W. Scripps (NYSE:SSP) CFO Lisa A. Knutson sold 4,406 shares of E. W. Scripps stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $21.41, for a total transaction of $94,332.46. Following the completion of the sale, 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 can be accessed through this link.

Shares of E. W. Scripps stock opened at $17.64 on Wednesday. E. W. Scripps has a twelve month low of $12.16 and a twelve month high of $23.41.

E. W. Scripps (NYSE:SSP) last issued its quarterly earnings data on Friday, May 10th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $288.81 million. During the same period last year, the business earned ($0.07) EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Friday, June 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.13%. The ex-dividend date is Thursday, June 13th.

Hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its holdings in E. W. Scripps by 8.0% in the 4th quarter. California Public Employees Retirement System now owns 124,083 shares of the company’s stock valued at $1,952,000 after buying an additional 9,227 shares during the period. Oregon Public Employees Retirement Fund bought a new position in E. W. Scripps in the 4th quarter valued at about $337,000. Metropolitan Life Insurance Co. NY increased its holdings in E. W. Scripps by 349.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,897 shares of the company’s stock valued at $219,000 after buying an additional 10,808 shares during the period. MetLife Investment Advisors LLC increased its holdings in E. W. Scripps by 50.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 32,433 shares of the company’s stock valued at $535,000 after buying an additional 10,808 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in E. W. Scripps in the 3rd quarter valued at about $174,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on SSP. Zacks Investment Research cut shares of E. W. Scripps from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Benchmark reiterated a “buy” rating and issued a $26.00 price objective (up previously from $22.00) on shares of E. W. Scripps in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $20.50.

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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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Insider Buying and Selling by Quarter for E. W. Scripps (NYSE:SSP)

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