A. William Scripps, large shareholder at Scripps Networks Interactive, Inc (NYSE:SNI), unloaded last August 28th through an open market transaction 100,000 Class A Common Shares. Of these, 30,000 were sold at an average weighted price of $79.98 each, for a total value of $2,399,280. The remaining 70,000 shares were sold for $80.16 each, for a total value of $5,611,410. Following the filing, Mr. Scripps directly owns 584,454 Class A Common Shares and 1,603,998 Common Voting Shares of this firm dedicated to the development of lifestyle-oriented content for television and internet.
On the same way, Scripps Networks Interactive, Inc (NYSE:SNI)’s second and third largest hedge fund investors on record have also decided to reduce their exposure to the company. Jeffrey Gates’ Gates Capital Management –owner of 1.8 million shares- has done so by 3% while Tom Russo’s Gardner Russo & Gardner –owner of 1.2 million shares- has diminished his participation by 8% on the $11.28 billion market cap company.
Disclosure: Pamela Gaviño holds no position in any of the stocks or funds mentioned.