E.W. Scripps (NASDAQ:SSP) Trading Up 1.4% – Time to Buy?

E.W. Scripps Company (The) (NASDAQ:SSP)’s share price shot up 1.4% during mid-day trading on Tuesday . The stock traded as high as $4.02 and last traded at $3.9950. 457,874 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 943,276 shares. The stock had previously closed at $3.94.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of E.W. Scripps in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.50.

E.W. Scripps Stock Up 1.4%

The business’s 50-day moving average is $3.69 and its two-hundred day moving average is $3.21. The firm has a market capitalization of $354.76 million, a price-to-earnings ratio of -9.08 and a beta of 0.66. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.61 and a current ratio of 1.61.

E.W. Scripps (NASDAQ:SSP) last issued its earnings results on Friday, November 7th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $525.85 million during the quarter, compared to the consensus estimate of $523.58 million. E.W. Scripps had a net margin of 0.99% and a return on equity of 9.82%. On average, equities analysts anticipate that E.W. Scripps Company will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its holdings in shares of E.W. Scripps by 47.2% in the second quarter. XTX Topco Ltd now owns 351,406 shares of the company’s stock valued at $1,033,000 after buying an additional 112,608 shares during the period. Acadian Asset Management LLC raised its holdings in shares of E.W. Scripps by 37.6% during the first quarter. Acadian Asset Management LLC now owns 1,157,372 shares of the company’s stock worth $3,421,000 after acquiring an additional 316,545 shares during the period. Aristeia Capital L.L.C. bought a new stake in E.W. Scripps in the 1st quarter valued at $700,000. Ritholtz Wealth Management acquired a new position in E.W. Scripps in the 2nd quarter worth $418,000. Finally, Chicago Partners Investment Group LLC increased its holdings in E.W. Scripps by 28.9% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 21,121 shares of the company’s stock worth $62,000 after purchasing an additional 4,730 shares in the last quarter. 67.81% of the stock is currently owned by institutional investors.

E.W. Scripps Company Profile

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.