OppenheimerFunds Inc. cut its position in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 1.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,326 shares of the company’s stock after selling 80 shares during the period. OppenheimerFunds Inc.’s holdings in Scripps Networks Interactive were worth $417,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Scripps Networks Interactive by 22.2% in the first quarter. American Century Companies Inc. now owns 1,639,158 shares of the company’s stock worth $128,461,000 after buying an additional 297,358 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Scripps Networks Interactive by 40.5% in the first quarter. Bank of New York Mellon Corp now owns 1,166,026 shares of the company’s stock worth $91,381,000 after buying an additional 335,940 shares during the period. Boston Partners increased its stake in shares of Scripps Networks Interactive by 0.5% in the first quarter. Boston Partners now owns 1,006,542 shares of the company’s stock worth $78,883,000 after buying an additional 4,895 shares during the period. Congress Asset Management Co. MA increased its stake in shares of Scripps Networks Interactive by 9.2% in the first quarter. Congress Asset Management Co. MA now owns 806,197 shares of the company’s stock worth $63,182,000 after buying an additional 68,071 shares during the period. Finally, Norges Bank acquired a new stake in shares of Scripps Networks Interactive during the fourth quarter worth about $48,031,000. Hedge funds and other institutional investors own 69.61% of the company’s stock.
Scripps Networks Interactive, Inc (NASDAQ SNI) traded down 0.86% during midday trading on Friday, reaching $87.29. The company had a trading volume of 6,247,413 shares. The company’s 50 day moving average is $71.91 and its 200-day moving average is $73.93. The company has a market capitalization of $11.33 billion, a P/E ratio of 19.51 and a beta of 1.49. Scripps Networks Interactive, Inc has a 52-week low of $59.32 and a 52-week high of $88.45.
Scripps Networks Interactive (NASDAQ:SNI) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.35. The firm had revenue of $855 million for the quarter, compared to analyst estimates of $856.98 million. Scripps Networks Interactive had a net margin of 16.94% and a return on equity of 30.71%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 earnings per share. Equities analysts expect that Scripps Networks Interactive, Inc will post $5.49 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This story was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://stocknewstimes.com/2017/08/05/oppenheimerfunds-inc-sells-80-shares-of-scripps-networks-interactive-inc-sni-updated-updated.html.
SNI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Scripps Networks Interactive from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $83.00 target price on shares of Scripps Networks Interactive in a report on Monday, July 10th. Wells Fargo & Company initiated coverage on Scripps Networks Interactive in a report on Thursday, July 20th. They issued a “market perform” rating and a $82.00 target price for the company. Moffett Nathanson reissued a “sell” rating on shares of Scripps Networks Interactive in a report on Friday, June 9th. Finally, Royal Bank Of Canada set a $76.00 target price on Scripps Networks Interactive and gave the company a “hold” rating in a report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $82.47.
In other Scripps Networks Interactive news, major shareholder Edward W. Scripps sold 300,000 shares of Scripps Networks Interactive stock in a transaction on Friday, May 26th. The shares were sold at an average price of $66.96, for a total transaction of $20,088,000.00. Following the completion of the sale, the insider now owns 232,071 shares of the company’s stock, valued at approximately $15,539,474.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Margaret Scripps Klenzing sold 46,466 shares of Scripps Networks Interactive stock in a transaction on Monday, May 8th. The shares were sold at an average price of $71.01, for a total transaction of $3,299,550.66. Following the sale, the insider now directly owns 10,013 shares of the company’s stock, valued at approximately $711,023.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,466 shares of company stock worth $25,477,051. 2.50% of the stock is currently owned by company insiders.
About Scripps Networks Interactive
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.
Receive News & Ratings for Scripps Networks Interactive Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scripps Networks Interactive Inc and related companies with MarketBeat.com's FREE daily email newsletter.
