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

The E.W. Scripps Company (NASDAQ:SSP) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totalling 2,150,000 shares, a drop of 19.8% from the December 31st total of 2,680,000 shares. Based on an average daily trading volume, of 686,400 shares, the short-interest ratio is currently 3.1 days.

Analysts Set New Price Targets

SSP has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Benchmark cut their target price on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th.

Institutional Trading of E.W. Scripps

A number of hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. purchased a new stake in shares of E.W. Scripps in the second quarter valued at approximately $38,000. Diversified Trust Co purchased a new position in shares of E.W. Scripps during the 3rd quarter worth $42,000. Mackenzie Financial Corp purchased a new stake in E.W. Scripps in the second quarter valued at approximately $64,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of E.W. Scripps in the 2nd quarter worth about $66,000. Finally, Foster & Motley Inc. purchased a new position in shares of E.W. Scripps in the 4th quarter valued at $75,000. 67.81% of the stock is owned by institutional investors and hedge funds.

E.W. Scripps Price Performance

NASDAQ:SSP traded down $0.10 during midday trading on Friday, hitting $1.88. 484,582 shares of the company were exchanged, compared to its average volume of 444,439. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. E.W. Scripps has a fifty-two week low of $1.68 and a fifty-two week high of $8.39. The company has a fifty day simple moving average of $2.16 and a 200 day simple moving average of $2.35.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.19). The firm had revenue of $646.30 million for the quarter, compared to analyst estimates of $634.01 million. E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. During the same period last year, the firm earned ($0.15) EPS. Research analysts expect that E.W. Scripps will post 1.07 EPS for the current fiscal year.

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.