The E.W. Scripps Company (NASDAQ:SSP) Sees Significant Growth in Short Interest

The E.W. Scripps Company (NASDAQ:SSP) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,640,000 shares, a growth of 26.9% from the February 28th total of 2,080,000 shares. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 3.2% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in E.W. Scripps in the 4th quarter valued at about $37,000. Jefferies Financial Group Inc. acquired a new stake in E.W. Scripps during the fourth quarter valued at approximately $291,000. Public Employees Retirement System of Ohio bought a new stake in E.W. Scripps during the fourth quarter worth approximately $29,000. Two Sigma Advisers LP grew its holdings in shares of E.W. Scripps by 35.3% in the 4th quarter. Two Sigma Advisers LP now owns 471,600 shares of the company’s stock worth $1,042,000 after acquiring an additional 123,100 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in E.W. Scripps by 16.0% during the 4th quarter. Two Sigma Investments LP now owns 712,221 shares of the company’s stock worth $1,574,000 after buying an additional 98,172 shares during the period. 67.81% of the stock is owned by institutional investors and hedge funds.

E.W. Scripps Stock Performance

Shares of NASDAQ SSP opened at $2.98 on Thursday. E.W. Scripps has a 1 year low of $1.36 and a 1 year high of $4.65. The firm has a market cap of $258.37 million, a P/E ratio of -0.96 and a beta of 1.54. The stock has a fifty day moving average price of $2.17 and a two-hundred day moving average price of $2.23. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34.

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.