Murphy Pohlad Asset Management LLC raised its stake in Scripps Networks Interactive, Inc (NASDAQ:SNI) by 18.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,545 shares of the company’s stock after buying an additional 6,780 shares during the period. Scripps Networks Interactive makes up about 2.2% of Murphy Pohlad Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Murphy Pohlad Asset Management LLC’s holdings in Scripps Networks Interactive were worth $2,974,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. James Investment Research Inc. acquired a new position in shares of Scripps Networks Interactive during the first quarter valued at $147,000. Mascoma Wealth Management LLC acquired a new position in shares of Scripps Networks Interactive during the second quarter valued at $130,000. SRS Capital Advisors Inc. raised its position in shares of Scripps Networks Interactive by 13.3% in the first quarter. SRS Capital Advisors Inc. now owns 2,152 shares of the company’s stock valued at $168,000 after buying an additional 252 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Scripps Networks Interactive by 6.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,175 shares of the company’s stock valued at $159,000 after buying an additional 138 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Scripps Networks Interactive by 2.7% in the first quarter. Assetmark Inc. now owns 2,542 shares of the company’s stock valued at $199,000 after buying an additional 67 shares during the last quarter. Institutional investors own 70.64% of the company’s stock.
Scripps Networks Interactive, Inc (NASDAQ SNI) opened at 86.15 on Wednesday. Scripps Networks Interactive, Inc has a 12-month low of $59.32 and a 12-month high of $88.45. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 17.78 and a beta of 1.49. The company has a 50-day moving average price of $77.64 and a 200-day moving average price of $74.82.
Several research analysts recently weighed in on the company. UBS AG reiterated a “neutral” rating and issued a $90.00 price objective (up from $83.00) on shares of Scripps Networks Interactive in a research report on Tuesday, August 1st. Argus lowered Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $76.00 price objective on shares of Scripps Networks Interactive in a research report on Monday, May 15th. MKM Partners reiterated a “neutral” rating and issued a $73.00 price objective (down from $84.00) on shares of Scripps Networks Interactive in a research report on Friday, July 21st. Finally, Citigroup Inc. upgraded Scripps Networks Interactive from a “sell” rating to a “neutral” rating and raised their price target for the stock from $66.00 to $90.00 in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Scripps Networks Interactive presently has an average rating of “Hold” and an average price target of $83.50.
In related news, Director Jeffrey Sagansky sold 1,159 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $87.83, for a total transaction of $101,794.97. Following the completion of the sale, the director now directly owns 9,457 shares of the company’s stock, valued at approximately $830,608.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Edward W. Scripps sold 300,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 232,071 shares of the company’s stock, valued at $15,539,474.16. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Scripps Networks Interactive Company Profile
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.
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