Gray Media Inc. (NYSE:GTN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Gray Media Inc. (NYSE:GTN) have earned an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $7.8750.

GTN has been the topic of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $6.50 target price on shares of Gray Media in a research note on Tuesday, April 28th. Weiss Ratings cut shares of Gray Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 15th. Guggenheim reduced their price objective on Gray Media from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Wall Street Zen upgraded Gray Media from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th.

Gray Media Stock Down 5.5%

NYSE GTN traded down $0.23 on Thursday, reaching $4.01. The company had a trading volume of 113,462 shares, compared to its average volume of 1,356,322. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.72. The company’s fifty day moving average is $3.97 and its 200 day moving average is $4.52. Gray Media has a 52-week low of $3.50 and a 52-week high of $6.43. The stock has a market capitalization of $412.50 million, a P/E ratio of -2.63 and a beta of 0.93.

Gray Media (NYSE:GTN) last posted its earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02). The firm had revenue of $768.00 million during the quarter, compared to the consensus estimate of $768.05 million. Gray Media had a negative return on equity of 3.07% and a negative net margin of 3.12%.The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.23) EPS. Sell-side analysts anticipate that Gray Media will post 1.85 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Monday, June 15th. Gray Media’s dividend payout ratio (DPR) is presently -20.92%.

Insider Activity

In other Gray Media news, Director Richard Lee Boger sold 57,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $4.40, for a total value of $250,800.00. Following the completion of the transaction, the director owned 4,591 shares in the company, valued at $20,200.40. This trade represents a 92.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 8.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GTN. Capital Management Corp VA increased its stake in Gray Media by 4.1% in the 4th quarter. Capital Management Corp VA now owns 6,149,022 shares of the company’s stock worth $29,761,000 after acquiring an additional 242,525 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Gray Media by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,998,630 shares of the company’s stock valued at $34,672,000 after buying an additional 251,419 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Gray Media by 23.7% during the fourth 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 last quarter. Miller Value Partners LLC boosted its stake in Gray Media by 12.1% in the fourth quarter. Miller Value Partners LLC now owns 3,988,495 shares of the company’s stock worth $19,304,000 after buying an additional 430,280 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Gray Media by 55.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,878,508 shares of the company’s stock worth $13,932,000 after purchasing an additional 1,025,133 shares during the period. 78.64% of the stock is owned by institutional investors.

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.