Is E.W. Scripps Co (SSP) A Good Stock To Buy?

With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. Cove Street Capital, led by Jeffrey Bronchick, established the largest position in E.W. Scripps Co (NYSE:SSP). Cove Street Capital had $17.2 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $1.5 million position during the quarter. The other funds with brand new SSP positions are Matthew Tewksbury’s Stevens Capital Management, Ken Griffin’s Citadel Investment Group, and Joel Greenblatt’s Gotham Asset Management.

Let’s go over hedge fund activity in other stocks similar to E.W. Scripps Co (NYSE:SSP). We will take a look at SUPERVALU INC. (NYSE:SVU), Neenah Paper, Inc. (NYSE:NP), Universal Corp (NYSE:UVV), and Exponent, Inc. (NASDAQ:EXPO). This group of stocks’ market values are similar to SSP’s market value.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $137 million. That figure was $175 million in SSP’s case. SUPERVALU INC. (NYSE:SVU) is the most popular stock in this table. On the other hand Exponent, Inc. (NASDAQ:EXPO) is the least popular one with only 8 bullish hedge fund positions. E.W. Scripps Co (NYSE:SSP) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard SVU might be a better candidate to consider taking a long position in.

Suggested Articles:
Most Expensive Boarding Schools
Easiest Big Colleges To Get Into
Conspiracy Theories About Princess Diana’s Death

Disclosure: None