Minerva Advisors LLC Boosts Stock Position in The E.W. Scripps Company (NASDAQ:SSP)

Minerva Advisors LLC grew its stake in shares of The E.W. Scripps Company (NASDAQ:SSP) by 48.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,192,441 shares of the company’s stock after buying an additional 389,481 shares during the period. E.W. Scripps accounts for 1.5% of Minerva Advisors LLC’s portfolio, making the stock its 20th biggest holding. Minerva Advisors LLC owned 1.38% of E.W. Scripps worth $2,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SSP. Sei Investments Co. purchased a new position in shares of E.W. Scripps during the 2nd quarter valued at about $38,000. Vanguard Personalized Indexing Management LLC bought a new stake in E.W. Scripps during the 2nd quarter valued at approximately $39,000. Diversified Trust Co bought a new stake in E.W. Scripps during the 3rd quarter valued at approximately $42,000. CWM LLC raised its stake in E.W. Scripps by 4,620.6% during the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock valued at $45,000 after purchasing an additional 13,908 shares during the period. Finally, Virtu Financial LLC bought a new stake in E.W. Scripps during the 1st quarter valued at approximately $50,000. 67.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SSP shares. StockNews.com raised E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark reduced their price objective on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

E.W. Scripps Stock Performance

Shares of E.W. Scripps stock opened at $1.73 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41. The stock has a 50 day moving average price of $2.33 and a 200-day moving average price of $2.64. The E.W. Scripps Company has a one year low of $1.68 and a one year high of $9.35.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). The company had revenue of $646.30 million during the quarter, compared to analysts’ expectations of $634.01 million. E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. During the same quarter last year, the firm posted ($0.15) EPS. Equities analysts forecast that The E.W. Scripps Company will post 1.07 EPS for the current year.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.