10% owner Peirce Mary bought 2,214 shares ($9.9K) across 2 trades in E.W. Scripps (SSP) amid 19-insider cluster buy, stock down 14.9% YTD.
Peirce Mary, a 10% owner, executed 2 separate purchases totaling 2,214 shares for $9,931.53 at a blended average price of $4.49, increasing holdings to 69.0K shares from 66.8K shares (+3.3%). The purchases occur within a broader pattern: 19 other insiders also bought within the past 14 days, indicating coordinated accumulation at the firm. E.W. Scripps trades at $4.17 currently, down 14.9% from its 52-week high of $4.90, and the company reported revenue of $525.9M in its latest quarter but remains unprofitable with full-year net income of -$33.0M and annual revenue contraction of 14.3%. The timing of multiple insider purchases alongside operational headwinds and a depressed stock price relative to 52-week highs merits attention as a data point in understanding management's assessment of current valuation and downside risk.