Scripps Networks Interactive, Inc (SNI) Sees Large Decline in Short Interest
Scripps Networks Interactive, Inc (NASDAQ:SNI) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 4,598,014 shares, a decline of 17.1% from the August 15th total of 5,549,736 shares. Based on an average daily volume of 1,571,357 shares, the short-interest ratio is presently 2.9 days. Currently, 5.3% of the shares of the stock are sold short.
Shares of Scripps Networks Interactive (SNI) opened at 86.01 on Friday. The stock has a 50 day moving average price of $86.23 and a 200-day moving average price of $76.11. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 17.75 and a beta of 1.47. Scripps Networks Interactive has a 52-week low of $59.32 and a 52-week high of $88.45.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 10th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.40%. Scripps Networks Interactive’s dividend payout ratio (DPR) is 24.79%.
Several brokerages recently weighed in on SNI. Sanford C. Bernstein restated a “market perform” rating on shares of Scripps Networks Interactive in a research note on Tuesday. Royal Bank Of Canada lifted their price target on Scripps Networks Interactive from $76.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. Argus lowered Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Citigroup Inc. upgraded Scripps Networks Interactive from a “sell” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $90.00 in a research note on Tuesday, August 1st. Finally, Cowen and Company reiterated a “hold” rating and set a $90.00 price objective on shares of Scripps Networks Interactive in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $84.20.
In related news, Director Jeffrey Sagansky sold 1,159 shares of Scripps Networks Interactive stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $87.83, for a total value of $101,794.97. Following the completion of the transaction, the director now owns 9,457 shares in the company, valued at approximately $830,608.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. YorkBridge Wealth Partners LLC increased its stake in shares of Scripps Networks Interactive by 14.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,552 shares of the company’s stock worth $106,000 after purchasing an additional 193 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Scripps Networks Interactive during the 2nd quarter worth approximately $126,000. Mascoma Wealth Management LLC purchased a new position in shares of Scripps Networks Interactive during the 2nd quarter worth approximately $130,000. SRS Capital Advisors Inc. increased its stake in shares of Scripps Networks Interactive by 13.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,152 shares of the company’s stock worth $168,000 after purchasing an additional 252 shares in the last quarter. Finally, Federated Investors Inc. PA increased its stake in shares of Scripps Networks Interactive by 48.4% during the 2nd quarter. Federated Investors Inc. PA now owns 2,378 shares of the company’s stock worth $163,000 after purchasing an additional 776 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
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Scripps Networks Interactive Company Profile
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.
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