The E.W. Scripps Company (NASDAQ:SSP) Short Interest Update

The E.W. Scripps Company (NASDAQ:SSP) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 4,410,000 shares, a growth of 15.1% from the August 15th total of 3,830,000 shares. Based on an average daily trading volume, of 767,800 shares, the days-to-cover ratio is presently 5.7 days.

E.W. Scripps Stock Down 0.5 %

E.W. Scripps stock traded down $0.01 on Monday, hitting $2.00. 35,212 shares of the stock traded hands, compared to its average volume of 899,782. The business’s fifty day simple moving average is $2.65 and its 200 day simple moving average is $3.09. The firm has a market cap of $170.78 million, a P/E ratio of -0.17 and a beta of 1.73. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79. E.W. Scripps has a 1 year low of $1.68 and a 1 year high of $9.35.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. The business had revenue of $573.63 million for the quarter, compared to the consensus estimate of $586.65 million. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, sell-side analysts forecast that E.W. Scripps will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SSP shares. Benchmark reduced their target price on E.W. Scripps from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. StockNews.com lowered shares of E.W. Scripps from a “hold” rating to a “sell” rating in a report on Thursday, August 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of E.W. Scripps by 1,154.7% in the second quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock worth $7,550,000 after acquiring an additional 2,212,959 shares during the last quarter. Millennium Management LLC increased its holdings in shares of E.W. Scripps by 270.6% in the 2nd quarter. Millennium Management LLC now owns 3,001,601 shares of the company’s stock worth $9,425,000 after purchasing an additional 2,191,666 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in E.W. Scripps by 1,619.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock valued at $6,918,000 after acquiring an additional 2,075,027 shares during the period. Cove Street Capital LLC boosted its holdings in shares of E.W. Scripps by 34.2% during the 1st quarter. Cove Street Capital LLC now owns 3,703,082 shares of the company’s stock valued at $14,553,000 after acquiring an additional 944,328 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of E.W. Scripps in the second quarter worth approximately $1,833,000. Institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.