11 Best Fundamentally Strong Penny Stocks to Buy Now

4. The E.W. Scripps Company (NASDAQ:SSP)

Number of Hedge Fund Holders: 20

The E.W. Scripps Company (NASDAQ:SSP) is a media enterprise focused on television broadcasting, national media, and content production. The company operates a portfolio of local TV stations across major US markets, affiliated with networks such as ABC, NBC, and CBS. Through its Scripps Networks division, it owns national media brands including Court TV and Scripps News, and also operates a range of multicast and over-the-air television networks. SSP produces and distributes original content and leverages both traditional and digital platforms. The company ranked eighth on our recent list of 12 Best Broadcasting Stocks to Buy Right Now.

The E.W. Scripps Company (NASDAQ:SSP) reported strong Q4 and full-year 2024 results, achieving significant progress in debt reduction and performance improvement for Scripps Networks. The company successfully reduced its leverage ratio to 4.8x by year-end, nearly a full turn below the end of 2023. In the Networks division, the company has taken steps to improve margins by 400 to 600 basis points in 2025, including significant cost reductions in Scripps News and other divisional expenses. The Local Media division achieved record political advertising revenue, almost 30% higher than the 2020 presidential election year revenue, with more than 80% of these dollars coming from only 6 states. The company’s sports strategy has proven successful, with ION’s sports inventory commanding advertising rates more than 2x its nonsports inventory.

The E.W. Scripps Company (NASDAQ:SSP) has executed binding commitments to refinance its revolving credit facility and term loans, managing to increase its blended cost of debt by less than 1% despite the elevated rate environment. Through these refinancing efforts, SSP will have retired or extended the maturity of up to $1.5 billion of debt. The company has also made progress in real estate monetization, completing $20 million in transmission tower sales and reaching an agreement for a $40 million sale of their television station building in West Palm Beach. With 20 hedge funds owning the stock, SSP is one of the best fundamental stocks to buy now.