Investment management company Cove Street Capital recently released its “Small Cap Value Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 2.83% compared to 2.74% for the Russell 2000 Index and -0.66% for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Cove Street Capital Small Cap Value Fund highlighted stocks like The E.W. Scripps Company (NASDAQ:SSP) in the first quarter 2023 investor letter. Headquartered in Cincinnati, Ohio, The E.W. Scripps Company (NASDAQ:SSP) is a media enterprise company that operates through local and national media. On April 10, 2023, The E.W. Scripps Company (NASDAQ:SSP) stock closed at $9.00 per share. One-month return of The E.W. Scripps Company (NASDAQ:SSP) was -15.41%, and its shares lost 52.68% of their value over the last 52 weeks. The E.W. Scripps Company (NASDAQ:SSP) has a market capitalization of $758.179 million.
Cove Street Capital Small Cap Value Fund made the following comment about The E.W. Scripps Company (NASDAQ:SSP) in its Q1 2023 investor letter:
“The E.W. Scripps Company (NASDAQ:SSP), which owns primarily local television stations, has a big advertising business tied to its media operations. The market fears recession and an advertising slowdown. We think cyclical problems are inherently buyable and we have added to our position.”
Pixabay/Public Domain
The E.W. Scripps Company (NASDAQ:SSP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held The E.W. Scripps Company (NASDAQ:SSP) at the end of the fourth quarter which was 13 in the previous quarter.
We discussed The E.W. Scripps Company (NASDAQ:SSP) in another article and shared the list of top stock picks of Minerva Advisors. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.