Pitcairn Co. Purchases Shares of 18,546 The E.W. Scripps Company (NASDAQ:SSP)

Pitcairn Co. acquired a new position in The E.W. Scripps Company (NASDAQ:SSP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,546 shares of the company’s stock, valued at approximately $41,000.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in E.W. Scripps by 428.7% in the 4th quarter. JPMorgan Chase & Co. now owns 497,862 shares of the company’s stock valued at $1,100,000 after buying an additional 403,691 shares during the last quarter. Barclays PLC raised its holdings in shares of E.W. Scripps by 1,643.5% in the third quarter. Barclays PLC now owns 418,588 shares of the company’s stock valued at $941,000 after purchasing an additional 394,580 shares during the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of E.W. Scripps during the fourth quarter valued at about $320,000. Bank of New York Mellon Corp boosted its holdings in E.W. Scripps by 55.1% during the fourth quarter. Bank of New York Mellon Corp now owns 299,016 shares of the company’s stock worth $661,000 after purchasing an additional 106,220 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in E.W. Scripps by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,442,144 shares of the company’s stock worth $3,238,000 after purchasing an additional 51,289 shares in the last quarter. Institutional investors own 67.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Benchmark increased their price target on E.W. Scripps from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, March 13th.

E.W. Scripps Stock Performance

NASDAQ:SSP opened at $2.38 on Monday. The E.W. Scripps Company has a 1 year low of $1.36 and a 1 year high of $4.65. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The business has a fifty day simple moving average of $2.18 and a two-hundred day simple moving average of $2.24. The company has a market capitalization of $206.35 million, a P/E ratio of -0.77 and a beta of 0.92.

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.