Minerva Advisors LLC increases shareholding in The E.W. Scripps Company (NASDAQ:SSP)

2 min read | November 19, 2024 06:50 AM PST | By Team Kalkine Media

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Minerva Advisors LLC increases shareholding in The E.W. Scripps Company (NASDAQ:SSP) — Image source: Shutterstock

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Highlights:

Minerva Advisors LLC raised its stake in The E.W. Scripps Company by 48.5% during the third quarter.

The institutional investor now holds over 1.19 million shares of the company, making it one of its top 20 holdings.

As of the latest filing, Minerva Advisors LLC’s position in E.W. Scripps is valued at approximately $2.67 million.

Minerva Advisors LLC (NASDAQ:SSP) has significantly increased its investment in The E.W. Scripps Company, raising its stake by 48.5% during the third quarter of 2024, according to the firm’s latest 13F filing with the U.S. Securities and Exchange Commission (SEC). The institutional investor now owns 1,192,441 shares of the media company, having purchased an additional 389,481 shares during the quarter.

This expansion in holdings makes E.W. Scripps the 20th largest position in Minerva Advisors LLC’s portfolio, accounting for approximately 1.5% of its total investments. As of the most recent SEC filing, Minerva Advisors LLC's stake in E.W. Scripps is valued at $2.67 million, reflecting its continued interest in the company.

The increased investment in The E.W. Scripps Company aligns with Minerva Advisors’ broader strategy of diversifying its portfolio while maintaining exposure to key players in the media sector. E.W. Scripps, which is involved in television broadcasting, digital media, and other communications services, has been a significant player in the evolving media landscape, which may have prompted the institutional investor to boost its position.

As of now, Minerva Advisors LLC remains a key shareholder in E.W. Scripps, signaling confidence in the company's long-term prospects. The company’s increased stake comes amid ongoing industry developments and market conditions that could shape the future performance of media companies like Scripps.

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