E.W. Scripps Co (SSP): GAMCO Investors Reports 12.53% Stake

According to a newly-amended 13D filing with the US SEC, Mario Gabelli‘s GAMCO Investors and its affiliates collectively own a total of 9.02 million Class A Common shares of E.W. Scripps Company (NYSE:SSP), which represents 12.53% of the company’s outstanding stock. Out of the aggregate amount, GAMCO Investors solely own 6.28 million shares of the company, which is slightly more compared to 5.82 million shares  it held at the end of December, as revealed in its last 13F filing.

E.W. Scripps Company (NYSE:SSP) owns and operates 33 TV stations and 34 radio stations and owns several digital media brands and the company’s shares have dropped by 33% over the last 12 months. The company is working on expanding its portfolio, as they have recently bought the humor website Cracked.com from Demand Media for $39 million. E.W. Scripps said that the website was profitable last year, and it plans to extend its video offering by making its content available on other devices such as Apple TV and Amazon Fire TV.

Among the hedge funds tracked by Insider Monkey, nine investors reported long positions in E.W. Scripps Company (NYSE:SSP) as of the end of 2015. Aside from GAMCO, other investors that held valuable positions in E.W. Scripps Company included Marc Lisker, Glenn Fuhrman and John Phelan’s MSDC Management, Ken Grossman and Glen Schneider’s SG Capital Management and Howard Guberman’s Gruss Asset Management.

On the other hand, Jim Simons’s Renaissance Technologies dumped the largest position comprising close to $2.4 million in stock during the fourth quarter, and Paul Tudor Jones’s Tudor Investment Corp also unloaded its stake, worth around $400,000

You can access the original SEC filing by clicking here.

Ownership Summary Table

Page 1 of 19 – SEC Filing