Advertisement
Canada markets closed
  • S&P/TSX

    22,465.37
    +165.54 (+0.74%)
     
  • S&P 500

    5,303.27
    +6.17 (+0.12%)
     
  • DOW

    40,003.59
    +134.21 (+0.34%)
     
  • CAD/USD

    0.7348
    +0.0002 (+0.03%)
     
  • CRUDE OIL

    80.00
    +0.77 (+0.97%)
     
  • Bitcoin CAD

    91,058.93
    +6.19 (+0.01%)
     
  • CMC Crypto 200

    1,370.71
    -3.14 (-0.23%)
     
  • GOLD FUTURES

    2,419.80
    +34.30 (+1.44%)
     
  • RUSSELL 2000

    2,095.72
    -0.53 (-0.03%)
     
  • 10-Yr Bond

    4.4200
    +0.0430 (+0.98%)
     
  • NASDAQ

    16,685.97
    -12.35 (-0.07%)
     
  • VOLATILITY

    11.99
    -0.43 (-3.46%)
     
  • FTSE

    8,420.26
    -18.39 (-0.22%)
     
  • NIKKEI 225

    38,787.38
    -132.88 (-0.34%)
     
  • CAD/EUR

    0.6755
    -0.0001 (-0.01%)
     

Do You Think EW Scripps (SSP) is a Cheap Stock?

Investment management company Cove Street Capital recently released its “Small Cap Value Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 1.61% compared to 5.18% for the Russell 2000 Index and 2.90% for the Russell 2000 Value Index. The first quarter of calendar year 2024 was mostly more of the recent same. US investors focused on the Federal Reserve's comments and still expecting interest rate cuts in 2024. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Cove Street Small Cap Value Fund featured stocks like The E.W. Scripps Company (NASDAQ:SSP) in its first quarter 2024 investor letter. On April 10, 2024, The E.W. Scripps Company (NASDAQ:SSP) stock closed at $3.3250 per share. One-month return of The E.W. Scripps Company (NASDAQ:SSP) was -16.46%, and its shares lost 64.09% of their value over the last 52 weeks. The E.W. Scripps Company (NASDAQ:SSP) has a market capitalization of $283 million.

Cove Street Small Cap Value Fund stated the following regarding The E.W. Scripps Company (NASDAQ:SSP) in its first quarter 2024 investor letter:

"Starting with the detractor column, The E.W. Scripps Company (NASDAQ:SSP) is a noteworthy best performer/worst performer candidate, and to be fair to us, we have made Buys near the bottom and Sales near the top several times over the past few years. People are worried about SSP’s leverage in an uncertain media economy. Our research suggests people are grossly under-appreciating the number of levers management can pull to carry the company past the current fear trade. In our opinion, it is a very, very cheap stock."

A technician preparing a broadcast satellite dish for transmission of cable content.

ADVERTISEMENT

The E.W. Scripps Company (NASDAQ:SSP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, The E.W. Scripps Company (NASDAQ:SSP) was held by 11 hedge fund portfolios, compared to 9 in the previous quarter, according to our database.

We discussed The E.W. Scripps Company (NASDAQ:SSP) in another article and shared Cove Street Capital's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.