E. W. Scripps Co (NYSE:SSP) was the recipient of some unusual options trading on Tuesday. Stock investors bought 1,520 put options on the stock. This is an increase of 1,927% compared to the average daily volume of 75 put options.
Several research analysts recently commented on SSP shares. Guggenheim started coverage on E. W. Scripps in a research report on Wednesday, October 18th. They set a “neutral” rating and a $19.00 price target for the company. Zacks Investment Research cut E. W. Scripps from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Benchmark reduced their price target on E. W. Scripps from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, November 6th. ValuEngine cut E. W. Scripps from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, Noble Financial reissued a “buy” rating on shares of E. W. Scripps in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $19.25.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in shares of E. W. Scripps by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after buying an additional 26 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of E. W. Scripps in the third quarter valued at approximately $203,000. Piedmont Investment Advisors LLC acquired a new stake in shares of E. W. Scripps in the second quarter valued at approximately $217,000. Fox Run Management L.L.C. acquired a new stake in shares of E. W. Scripps in the third quarter valued at approximately $264,000. Finally, SG Americas Securities LLC lifted its position in shares of E. W. Scripps by 26.8% in the third quarter. SG Americas Securities LLC now owns 19,918 shares of the company’s stock valued at $381,000 after buying an additional 4,211 shares during the last quarter. 77.90% of the stock is owned by institutional investors.
About E. W. Scripps
The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.
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