Gray Media (NYSE:GTN) Shares Down 8.8% – Should You Sell?

Gray Media Inc. (NYSE:GTN)’s share price traded down 8.8% during mid-day trading on Friday . The stock traded as low as $5.31 and last traded at $5.3650. 838,263 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 1,355,738 shares. The stock had previously closed at $5.88.

Key Headlines Impacting Gray Media

Here are the key news stories impacting Gray Media this week:

• Positive Sentiment: Q4 results beat analyst expectations — Gray reported a smaller-than-expected loss (beats on EPS) and revenue topped estimates, with management saying Adjusted EBITDA exceeded consensus. Press Release / Slide Deck
• Positive Sentiment: The board declared a $0.08 quarterly cash dividend (annualized yield ~5.9%), which supports income-oriented holders and can provide demand support for the shares. Dividend Announcement
• Neutral Sentiment: Detailed Q4 earnings call transcripts and the slide presentation are available for investors who want management commentary on revenue drivers, ad trends and margin outlook. Earnings Call Transcript
• Neutral Sentiment: Coverage pieces and summaries (Zacks, MarketBeat) confirm the beats but also highlight the sharp YoY revenue decline, useful for context when modeling recovery timing. Zacks Article
• Negative Sentiment: Q1 2026 revenue guidance was lowered to roughly $755M–$770M, below consensus (~$779M), which raises near-term growth concerns and likely pressured the stock. See press release for guidance details.
• Negative Sentiment: Revenue is down ~24% year-over-year and the company reported a loss this quarter versus strong EPS the prior year, highlighting cyclical ad weakness — a material headwind for near-term profitability. Conference Call
• Negative Sentiment: Balance-sheet metrics (high leverage: debt-to-equity ~2.6; current ratio <1) may concern investors about financial flexibility if ad market weakness persists. See company filings for details.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark raised their price target on Gray Media from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen cut shares of Gray Media from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Wells Fargo & Company increased their target price on Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Zacks Research raised shares of Gray Media from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Gray Media in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Gray Media has an average rating of “Moderate Buy” and an average price target of $7.75.

Gray Media Stock Performance

The stock has a market capitalization of $508.80 million, a price-to-earnings ratio of 12.14 and a beta of 0.89. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.60. The firm has a 50-day moving average of $4.65 and a 200-day moving average of $5.05.

Gray Media (NYSE:GTN) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The business had revenue of $792.00 million for the quarter, compared to analyst estimates of $780.50 million. During the same period in the prior year, the company earned $1.59 earnings per share. The company’s revenue was down 24.2% on a year-over-year basis. As a group, sell-side analysts predict that Gray Media Inc. will post 3.32 earnings per share for the current year.

Gray Media Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.4%. Gray Media’s dividend payout ratio is presently 78.05%.

Institutional Investors Weigh In On Gray Media

Several hedge funds have recently bought and sold shares of GTN. Capital Management Corp VA grew its position in Gray Media by 4.1% during the fourth quarter. Capital Management Corp VA now owns 6,149,022 shares of the company’s stock valued at $29,761,000 after buying an additional 242,525 shares during the period. Vanguard Group Inc. raised its holdings in Gray Media by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,998,630 shares of the company’s stock worth $34,672,000 after purchasing an additional 251,419 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Gray Media by 23.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,188,712 shares of the company’s stock worth $25,113,000 after purchasing an additional 994,474 shares during the period. Miller Value Partners LLC boosted its position in Gray Media by 12.1% during the fourth quarter. Miller Value Partners LLC now owns 3,988,495 shares of the company’s stock worth $19,304,000 after purchasing an additional 430,280 shares in the last quarter. Finally, Penn Capital Management Company LLC grew its holdings in Gray Media by 43.6% in the third quarter. Penn Capital Management Company LLC now owns 3,236,997 shares of the company’s stock valued at $18,758,000 after purchasing an additional 983,415 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Media Company Profile

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.