Scripps Networks Interactive, Inc (NASDAQ:SNI) was upgraded by equities research analysts at Moffett Nathanson from a “sell” rating to a “neutral” rating in a research note issued to investors on Monday, July 31st, MarketBeat reports. The firm currently has a $87.00 target price on the stock, up from their prior target price of $61.00. Moffett Nathanson’s price target would suggest a potential upside of 0.39% from the company’s previous close.
Several other research analysts have also commented on SNI. Zacks Investment Research lowered shares of Scripps Networks Interactive from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Wells Fargo & Company assumed coverage on shares of Scripps Networks Interactive in a report on Thursday, July 20th. They issued a “market perform” rating and a $82.00 price target for the company. J P Morgan Chase & Co upgraded shares of Scripps Networks Interactive to a “neutral” rating and set a $83.00 price objective on the stock in a research report on Monday, May 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $76.00 price objective on shares of Scripps Networks Interactive in a research report on Friday, May 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $87.00 price objective on shares of Scripps Networks Interactive in a research report on Monday, April 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $83.50.
Shares of Scripps Networks Interactive (NASDAQ SNI) traded down 0.20% during midday trading on Monday, hitting $86.66. 2,215,872 shares of the stock were exchanged. The company has a market cap of $11.25 billion, a PE ratio of 17.88 and a beta of 1.49. Scripps Networks Interactive has a 12-month low of $59.32 and a 12-month high of $88.45. The firm has a 50-day moving average price of $76.59 and a 200-day moving average price of $74.68.
In other news, Director Jeffrey Sagansky sold 1,159 shares of Scripps Networks Interactive stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $87.83, for a total value of $101,794.97. Following the transaction, the director now owns 9,457 shares of the company’s stock, valued at approximately $830,608.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Edward W. Scripps sold 300,000 shares of Scripps Networks Interactive stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $66.96, for a total transaction of $20,088,000.00. Following the completion of the transaction, the insider now directly owns 232,071 shares in the company, valued at approximately $15,539,474.16. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNI. BlackRock Inc. increased its position in Scripps Networks Interactive by 4,188.7% in the first quarter. BlackRock Inc. now owns 7,146,555 shares of the company’s stock valued at $560,078,000 after buying an additional 6,979,918 shares during the period. Alliancebernstein L.P. increased its position in Scripps Networks Interactive by 1,107.7% in the second quarter. Alliancebernstein L.P. now owns 2,084,212 shares of the company’s stock valued at $142,373,000 after buying an additional 1,911,635 shares during the period. Renaissance Technologies LLC increased its position in Scripps Networks Interactive by 312.1% in the second quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock valued at $88,345,000 after buying an additional 979,500 shares during the period. JPMorgan Chase & Co. increased its position in Scripps Networks Interactive by 319.1% in the second quarter. JPMorgan Chase & Co. now owns 1,224,046 shares of the company’s stock valued at $83,614,000 after buying an additional 931,958 shares during the period. Finally, FMR LLC increased its position in Scripps Networks Interactive by 24.6% in the second quarter. FMR LLC now owns 3,371,082 shares of the company’s stock valued at $230,278,000 after buying an additional 665,805 shares during the period. 70.48% of the stock is currently owned by institutional investors and hedge funds.
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.
