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

Gray Media Inc. (NYSE:GTN) has received a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.8750.

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of Gray Media from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Gray Media from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Barrington Research reaffirmed an “outperform” rating and issued a $6.50 target price on shares of Gray Media in a research report on Tuesday, April 28th. Finally, Guggenheim dropped their target price on Gray Media from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 15th.

Gray Media Trading Up 1.3%

NYSE GTN opened at $4.34 on Thursday. Gray Media has a 52 week low of $3.50 and a 52 week high of $6.43. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s 50 day moving average price is $3.98 and its two-hundred day moving average price is $4.52. The stock has a market capitalization of $446.30 million, a price-to-earnings ratio of -2.84 and a beta of 0.94.

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

Insider Buying and Selling at Gray Media

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

Hedge Funds Weigh In On Gray Media

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in Gray Media during the first quarter worth $28,000. Parallel Advisors LLC lifted its stake in Gray Media by 57.1% in the first quarter. Parallel Advisors LLC now owns 7,901 shares of the company’s stock valued at $34,000 after acquiring an additional 2,873 shares during the last quarter. Abel Hall LLC bought a new position in shares of Gray Media in the 1st quarter valued at about $49,000. CANADA LIFE ASSURANCE Co grew its position in shares of Gray Media by 68.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,401 shares of the company’s stock valued at $50,000 after acquiring an additional 4,217 shares during the period. Finally, M&T Bank Corp acquired a new position in shares of Gray Media during the 4th quarter worth about $51,000. 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.