Scripps Eaton M is Buying E.w. Scripps Co (NYSE:SSP) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), E.w. Scripps Co (NYSE:SSP) reported that Scripps Eaton M has picked up 11,783,927 of common stock as of 2017-04-07.

The acquisition brings the aggregate amount owned by Scripps Eaton M to a total of 11,783,927 representing a 14.5% stake in the company.

For those not familiar with the company, The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations. As of December 31, 2016, the radio segment owned 34 radio stations in eight markets. As of December 31, 2016, it operated 28 frequency modulation (FM) stations and six Amplitude Modulation (AM) stations. The digital segment includes the digital operations of its local television and radio businesses. Its Syndication and other segment primarily includes the syndication of news features and comics and other features for the newspaper industry.

A glance at E.w. Scripps Co (NYSE:SSP)’s key stats reveals a current market capitalization of 1.95 Billion based on 70.04 Million shares outstanding and a price at last close of $23.48 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2015-08-11, Scripps picked up 112,000 at a purchase price of $19.95. This brings their total holding to 766,954 as of the date of the filing.

On the sell side, the most recent transaction saw Scripps unload 3,727 shares at a sale price of $23.48. This brings their total holding to 6,934.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on E.w. Scripps Co (NYSE:SSP) as things move forward to see if its progress aligns with these transactions.

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