Victory Capital Cuts E.W. Scripps Stake to 7.1%

TL;DR

**Victory Capital just cut its E.W. Scripps stake to 7.1%, down from 8.1%.**

AI Summary

Victory Capital Management Inc. has updated its ownership stake in E.W. Scripps Co. (ticker: SSP) as of December 31, 2023, reporting beneficial ownership of 5,764,238 shares of common stock. This represents a 7.1% stake in the company, a decrease from their previously reported 8.1% stake. This matters to investors because a significant institutional investor reducing its position could signal a change in their outlook on the company's future performance or valuation, potentially influencing other investors' decisions.

Why It Matters

A major institutional investor reducing its stake can signal a shift in confidence, potentially impacting market perception and the stock price of E.W. Scripps Co.

Risk Assessment

Risk Level: medium — A reduction in a significant institutional holding can create selling pressure or indicate a perceived increase in risk by a sophisticated investor.

Analyst Insight

A smart investor would investigate the reasons behind Victory Capital Management Inc.'s reduction in its E.W. Scripps Co. stake, potentially looking for any negative news or changes in the company's fundamentals that might have prompted this move, before making any investment decisions.

Key Numbers

• 5,764,238 — Shares Beneficially Owned (This is the total number of E.W. Scripps Co. common shares Victory Capital Management Inc. reported owning as of December 31, 2023.)
• 7.1% — Percentage of Class (This represents the percentage of E.W. Scripps Co.'s common stock that Victory Capital Management Inc. beneficially owns, indicating a reduction from a prior filing.)
• 811054402 — CUSIP Number (This unique identifier confirms the specific class of securities (Common Stock) of E.W. Scripps Co. being reported.)
• December 31, 2023 — Date of Event (This is the specific date that triggered the requirement for Victory Capital Management Inc. to file this amendment, reflecting their holdings at year-end.)

Key Players & Entities

• Victory Capital Management Inc. (company) — the reporting person reducing its stake
• E.W. Scripps Co. (company) — the subject company whose shares are being reported
• 5,764,238 (dollar_amount) — number of shares beneficially owned by Victory Capital Management Inc.
• 7.1% (dollar_amount) — percentage of E.W. Scripps Co. common stock beneficially owned by Victory Capital Management Inc.
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• E.W. Scripps Co. stock may experience short-term selling pressure due to the reduction in institutional ownership. (E.W. Scripps Co.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in E.W. Scripps Co. following Victory Capital's reduced stake. (E.W. Scripps Co.) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• scripps13ga6_12312023.htm (SC 13G/A) — 41KB
• 0001040188-24-000011.txt ( ) — 43KB

If this statement is filed

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) x An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 5802588 (b) Percent of class: 7.98% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 5764238 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 5802588 (iv) Shared power to dispose or to direct the disposition of: 0 Instruction . For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

Ownership of Five Percent

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial

Ownership of More than

Item 6. Ownership of More than Five Percent on Behalf of Another Person. The clients of Victory Capital Management Inc., including investment companies registered under the Investment Company Act of 1940 and separately managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the class of securities reported herein. No client has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of such class except the Victory Sycamore Small Company Opportunity Fund an investment company registered under the Investment Company Act of 1940, which has an interest of 5,78% of the class.

Identification and Classification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable

Identification and Classification

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution

Item 9. Notice of Dissolution of Group. Not applicable.

Certification

Item 10. Certification. (a) The following certification shall be included if the statement is filed pursuant to §240.13d-1(b): By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. CUSIP No. 811054402 13G Page 4 of 4 Pages After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. 2/6/2024 Date /s/ Barry Garrett Signature Barry Garrett/ Chief Compliance Officer Name/Title

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View this SC 13G/A filing on SEC EDGAR