Insider Selling: Molly E. Mccabe Sells 85,000 Shares of Scripps Networks Interactive Stock (SNI)
Scripps Networks Interactive (NYSE:SNI) major shareholder Molly E. Mccabe unloaded 85,000 shares of Scripps Networks Interactive stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $80.63, for a total value of $6,853,550.00. Following the completion of the transaction, the insider now directly owns 802,000 shares in the company, valued at approximately $64,665,260. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Scripps Networks Interactive (NYSE:SNI) traded up 0.44% on Wednesday, hitting $80.73. The stock had a trading volume of 563,353 shares. Scripps Networks Interactive has a one year low of $65.64 and a one year high of $86.62. The stock’s 50-day moving average is $77.21 and its 200-day moving average is $77.69. The company has a market cap of $11.538 billion and a P/E ratio of 22.63.
Scripps Networks Interactive (NYSE:SNI) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $645.05 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that Scripps Networks Interactive will post $3.98 EPS for the current fiscal year.
SNI has been the subject of a number of recent research reports. Analysts at ISI Group upgraded shares of Scripps Networks Interactive from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $85.00 price target on the stock. Analysts at Wunderlich upgraded shares of Scripps Networks Interactive from a “hold” rating to a “buy” rating in a research note on Friday, April 4th. They now have a $90.00 price target on the stock, up previously from $86.00. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $85.36.
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for television and the Internet with television and interactive brands.
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