Possible Scripps-Discovery Merger Boosts Both Stocks


"Discovery, Scripps and Viacom each lack sports programming or much in the way of other high-end original content on their core USA networks". FMR LLC now owns 2,705,277 shares of the company's stock worth $212,012,000 after buying an additional 248,772 shares during the last quarter. KCG Holdings Inc.'s holdings in Scripps Networks Interactive were worth $2,227,000 as of its most recent SEC filing. Following the transaction, the insider now directly owns 78,323 shares of the company's stock, valued at approximately $5,455,196.95. As of quarter end Aperio Group, LLC had bought 126 shares growing its position 0.2%. SRS Capital Advisors Inc. increased its stake in Scripps Networks Interactive by 13.3% in the first quarter.

Though overall sales during the quarter grew by 12 percent to $10.6 billion, a disappointing performance in North America surprised investors, and the company's share price fell 4.7 percent. Finally, American Century Companies Inc. boosted its stake in Scripps Networks Interactive by 22.2% in the first quarter.

Hedge funds have recently modified their holdings of the company.

Shares of Scripps were last trading up almost 14% at $76.31, with a consensus analyst price target of $75.71 and a 52-week range of $59.32 to $83.42.

In the market the company is trading up from yesterday's close of $67.02. The 50 day moving average was up $9.55 and the 200 day average moved up $3.56. This company shares are -1.53% up from its target price of $75.71 and the current market capitalization stands at $9.89B. Scripps Networks Interactive, Inc has a one year low of $59.32 and a one year high of $83.42. AMC Networks Inc. (NASDAQ: AMCX), a similar company with popular, non-sports TV networks, was rising 5.7%. Services Automobile Association holds 0.08% of its portfolio in Scripps Networks Interactive, Inc. The business had revenue of $855 million for the quarter, compared to analyst estimates of $856.98 million. During the same quarter in the prior year, the firm earned $1.37 EPS. Discovery did not return request for comment on these latest reports, while Scripps and Viacom declined comment. The stock of Scripps Networks Interactive, Inc.

"We remain unconvinced that a combination, particularly between companies primarily in the non-fiction content networks business, addresses the long-term secular trends of pressure on bundled channels and live-linear viewing", he added. 6,850 were reported by Weybosset Research & Limited Com. The stock moves followed a report by The Wall Street Journal that the two companies are in talks about a possible merger. The legal version of this report can be read at https://www.themarketsdaily.com/2017/07/19/united-capital-financial-advisers-llc-increases-position-in-scripps-networks-interactive-inc-sni-updated-updated-updated.html. A rating of 4 or 5 would represent a Sell recommendation. Zacks Investment Research cut Scripps Networks Interactive from a "hold" rating to a "sell" rating in a report on Monday.

Among 17 analysts covering Du Pont (NYSE:DD), 8 have Buy rating, 3 Sell and 6 Hold.

Scripps owns HGTV, Travel Channel, and a majority of the Food Network, which would fit well with Discovery's family of channels, which include Animal Planet and TLC. Another trade for 9,390 shares valued at $744,042 was sold by Costa Michael R.