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E.W. Scripps lost $0.06/share, missed estimates, but insiders bought shares as it acquired a KY station.
E.W.
Scripps (SSP) reported a quarterly loss of $0.06 per share, missing estimates, with revenue of $560.26 million.
Despite weak financial results and negative margins, insiders including CEO Adam Symson and directors Monica Holcomb and Charles Barmonde bought shares, while major shareholder Corina S. Granado increased her stake above 10%.
The company agreed to acquire WTVQ in Lexington, KY, for $15.8 million to expand local advertising.
The stock closed at $4.57–$4.65, up $0.16–$0.24, with elevated trading volume.
Analysts have a consensus “Reduce” rating with a $6.95 target.
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E.W. Scripps perdió $0.06 por acción, perdió las estimaciones, pero los de adentro compraron acciones cuando adquirió una estación de KY.