Scripps Networks Interactive Inc. (SNI) Major Shareholder William A. Scripps Sells 250,000 Shares of Stock
Scripps Networks Interactive Inc. (NASDAQ:SNI) major shareholder William A. Scripps sold 250,000 shares of Scripps Networks Interactive stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $69.57, for a total value of $17,392,500.00. Following the completion of the sale, the insider now owns 723,968 shares of the company’s stock, valued at $50,366,453.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Scripps Networks Interactive Inc. (NASDAQ:SNI) opened at 69.26 on Thursday. Scripps Networks Interactive Inc. has a one year low of $50.81 and a one year high of $73.71. The firm has a 50-day moving average price of $65.89 and a 200-day moving average price of $64.28. The firm has a market capitalization of $8.94 billion, a P/E ratio of 11.45 and a beta of 1.12.
Scripps Networks Interactive (NASDAQ:SNI) last posted its quarterly earnings results on Monday, November 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. The company had revenue of $803.10 million for the quarter, compared to analyst estimates of $794.62 million. Scripps Networks Interactive had a return on equity of 34.21% and a net margin of 23.37%. Scripps Networks Interactive’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. Equities analysts anticipate that Scripps Networks Interactive Inc. will post $5.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, November 28th. Scripps Networks Interactive’s dividend payout ratio (DPR) is presently 16.53%.
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Large investors have recently modified their holdings of the company. Boston Advisors LLC acquired a new stake in shares of Scripps Networks Interactive during the second quarter valued at $11,485,000. World Asset Management Inc raised its stake in shares of Scripps Networks Interactive by 3.3% in the third quarter. World Asset Management Inc now owns 9,810 shares of the company’s stock valued at $623,000 after buying an additional 312 shares during the period. AT Bancorp acquired a new stake in shares of Scripps Networks Interactive during the third quarter valued at $1,566,000. Janney Montgomery Scott LLC raised its stake in shares of Scripps Networks Interactive by 3,710.4% in the second quarter. Janney Montgomery Scott LLC now owns 175,052 shares of the company’s stock valued at $10,900,000 after buying an additional 170,458 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Scripps Networks Interactive by 155.4% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 21,696 shares of the company’s stock valued at $1,351,000 after buying an additional 13,200 shares during the period. 66.99% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on SNI shares. Jefferies Group decreased their price objective on Scripps Networks Interactive from $69.00 to $67.00 and set a “hold” rating for the company in a report on Wednesday, August 10th. Evercore ISI lowered Scripps Networks Interactive from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research note on Wednesday, August 10th. Argus restated a “buy” rating and set a $100.00 price target on shares of Scripps Networks Interactive in a research note on Tuesday, August 16th. Citigroup Inc. dropped their price target on Scripps Networks Interactive from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Finally, Moffett Nathanson lowered Scripps Networks Interactive from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $71.00 to $52.00 in a research note on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Scripps Networks Interactive presently has an average rating of “Hold” and an average price target of $68.73.
About Scripps Networks Interactive
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for linear and interactive video platforms, including television and the Internet brands. The Company’s segments include U.S. Networks, International Networks, and Corporate and Other. Its U.S. Networks segment includes its approximately six national television networks: HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country.
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