Insider Selling: Cynthia J. Scripps Sells 200,000 Shares of Scripps Networks Interactive Stock (SNI)
Scripps Networks Interactive (NYSE:SNI) major shareholder Cynthia J. Scripps sold 200,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $80.76, for a total value of $16,152,000.00. Following the sale, the insider now directly owns 802,000 shares in the company, valued at approximately $64,769,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Scripps Networks Interactive (NYSE:SNI) traded up 0.09% on Wednesday, hitting $80.58. 253,468 shares of the company’s stock traded hands. Scripps Networks Interactive has a 52 week low of $71.33 and a 52 week high of $86.62. The stock’s 50-day moving average is $81.64 and its 200-day moving average is $78.53. The company has a market cap of $11.291 billion and a P/E ratio of 22.70.
Scripps Networks Interactive (NYSE:SNI) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.13 by $0.01. The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $710.23 million. During the same quarter last year, the company posted $1.08 earnings per share. Scripps Networks Interactive’s revenue was up 6.5% compared to the same quarter last year. Analysts expect that Scripps Networks Interactive will post $3.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, August 27th.
SNI has been the subject of a number of recent research reports. Analysts at Evercore Partners raised their price target on shares of Scripps Networks Interactive from $80.00 to $89.00 in a research note on Wednesday, July 30th. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Scripps Networks Interactive in a research note on Wednesday, July 9th. They now have a $82.00 price target on the stock, up previously from $78.00. Finally, analysts at Jefferies Group initiated coverage on shares of Scripps Networks Interactive in a research note on Thursday, June 26th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Scripps Networks Interactive currently has an average rating of “Hold” and a consensus price target of $88.17.
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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