New York State Common Retirement Fund Has $10.87 Million Stock Holdings in Gray Media Inc. $GTN

New York State Common Retirement Fund raised its holdings in Gray Media Inc. (NYSE:GTN) by 36.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,881,087 shares of the company’s stock after buying an additional 504,780 shares during the quarter. New York State Common Retirement Fund owned 1.84% of Gray Media worth $10,873,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Gray Media by 76.6% in the second quarter. AQR Capital Management LLC now owns 1,361,807 shares of the company’s stock valued at $6,169,000 after acquiring an additional 590,704 shares during the period. Prudential Financial Inc. increased its position in Gray Media by 94.7% during the second quarter. Prudential Financial Inc. now owns 907,347 shares of the company’s stock worth $4,110,000 after acquiring an additional 441,290 shares during the period. Russell Investments Group Ltd. raised its stake in Gray Media by 34.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 665,877 shares of the company’s stock valued at $3,016,000 after purchasing an additional 169,582 shares during the last quarter. Empowered Funds LLC boosted its holdings in Gray Media by 7.4% in the 1st quarter. Empowered Funds LLC now owns 464,859 shares of the company’s stock valued at $2,008,000 after purchasing an additional 32,173 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Gray Media by 40.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 402,326 shares of the company’s stock valued at $1,823,000 after purchasing an additional 115,285 shares during the period. 78.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GTN has been the topic of several research reports. Wall Street Zen downgraded shares of Gray Media from a “hold” rating to a “sell” rating in a report on Saturday. Benchmark lifted their target price on Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Wells Fargo & Company upped their price target on Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a report on Monday, November 10th. Zacks Research upgraded Gray Media from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Gray Media in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Gray Media has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Gray Media Trading Down 2.1%

Shares of GTN opened at $4.45 on Wednesday. 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 stock has a market cap of $453.79 million, a PE ratio of 10.84 and a beta of 0.89. Gray Media Inc. has a 1 year low of $3.13 and a 1 year high of $6.30. The stock has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $5.05.

Gray Media (NYSE:GTN) last announced its quarterly earnings results on Friday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.17. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The firm had revenue of $749.00 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the prior year, the business posted $0.86 earnings per share. The business’s revenue was down 21.2% compared to the same quarter last year. On average, sell-side analysts predict that Gray Media Inc. will post 3.32 EPS for the current fiscal year.

Gray Media Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Monday, December 15th. Gray Media’s dividend payout ratio (DPR) is currently 78.05%.

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.