Teacher Retirement System of Texas Lowers Holdings in The E.W. Scripps Company (NASDAQ:SSP)

Posted by on Jun 5th, 2023

Teacher Retirement System of Texas lowered its stake in shares of The E.W. Scripps Company (NASDAQ:SSP – Get Rating) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 158,112 shares of the company’s stock after selling 2,075 shares during the quarter. Teacher Retirement System of Texas owned 0.19% of E.W. Scripps worth $2,085,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. FMR LLC raised its stake in E.W. Scripps by 46.8% in the second quarter. FMR LLC now owns 3,109 shares of the company’s stock valued at $39,000 after buying an additional 991 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in E.W. Scripps during the 1st quarter worth about $39,000. Tower Research Capital LLC TRC raised its stake in E.W. Scripps by 211.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,630 shares of the company’s stock valued at $64,000 after acquiring an additional 3,820 shares during the last quarter. Watershed Asset Management L.L.C. purchased a new position in shares of E.W. Scripps during the 3rd quarter worth approximately $115,000. Finally, Mutual of America Capital Management LLC increased its stake in E.W. Scripps by 18.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,519 shares of the company’s stock valued at $130,000 after purchasing an additional 1,811 shares in the last quarter. Institutional investors own 66.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SSP. Benchmark restated a “buy” rating and set a $17.00 price objective on shares of E.W. Scripps in a research note on Monday, February 27th. Guggenheim cut their target price on E.W. Scripps from $9.00 to $8.00 in a research note on Tuesday, May 9th. Finally, StockNews.com started coverage on E.W. Scripps in a report on Thursday, May 18th. They issued a “hold” rating for the company.

E.W. Scripps Trading Up 7.2 %

SSP opened at $8.23 on Monday. The stock has a market capitalization of $693.87 million, a P/E ratio of 7.03 and a beta of 1.80. The firm’s fifty day simple moving average is $8.50 and its 200 day simple moving average is $10.70. The E.W. Scripps Company has a 12 month low of $7.32 and a 12 month high of $16.44. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.70.

E.W. Scripps Company Profile

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The E.W. Scripps Co engages in television and newspaper publishing. It operates through the following business segments: Local Media, Scripps Networks, and Other. The Local Media segment consists of local broadcast television stations and their related digital operations. The Scripps Networks segment consists of national television networks.

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Institutional Ownership by Quarter for E.W. Scripps (NASDAQ:SSP)

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