Insider Buying: E. W. Scripps (SSP) Major Shareholder Purchases $94,000.00 in Stock

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E. W. Scripps (NYSE:SSP) major shareholder Charles E. Scripps purchased 5,000 shares of the company’s stock in a transaction dated Monday, January 28th. The shares were acquired at an average cost of $18.80 per share, for a total transaction of $94,000.00. Following the transaction, the insider now owns 801,367 shares of the company’s stock, valued at $15,065,699.60. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Charles E. Scripps also recently made the following trade(s):

On Monday, December 10th, Charles E. Scripps purchased 5,000 shares of E. W. Scripps stock. The shares were acquired at an average cost of $16.68 per share, for a total transaction of $83,400.00.

NYSE:SSP opened at $18.63 on Thursday. E. W. Scripps has a 52-week low of $10.69 and a 52-week high of $18.97.

E. W. Scripps (NYSE:SSP) last posted its quarterly earnings data on Friday, November 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The firm had revenue of $302.70 million for the quarter, compared to the consensus estimate of $292.22 million. The firm’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share.

SSP has been the topic of a number of research analyst reports. Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a research report on Wednesday, November 7th. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of E. W. Scripps in a research report on Thursday, October 18th. Zacks Investment Research raised E. W. Scripps from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Thursday, January 10th. Gabelli initiated coverage on E. W. Scripps in a research report on Tuesday, November 27th. They set a “buy” rating on the stock. Finally, Wolfe Research initiated coverage on E. W. Scripps in a report on Friday, December 7th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. E. W. Scripps has an average rating of “Hold” and a consensus price target of $19.50.

Several large investors have recently bought and sold shares of SSP. California Public Employees Retirement System grew its holdings in shares of E. W. Scripps by 5.8% during the second quarter. California Public Employees Retirement System now owns 118,693 shares of the company’s stock worth $1,589,000 after buying an additional 6,476 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of E. W. Scripps by 19.8% during the second quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after buying an additional 17,580 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of E. W. Scripps by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock worth $33,678,000 after buying an additional 79,568 shares in the last quarter. Lenox Wealth Management Inc. grew its holdings in shares of E. W. Scripps by 23.3% during the third quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock worth $1,381,000 after buying an additional 15,788 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in shares of E. W. Scripps by 50.0% during the third quarter. MetLife Investment Advisors LLC now owns 32,433 shares of the company’s stock worth $535,000 after buying an additional 10,808 shares in the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.

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About E. W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.