Gray Media (NYSE:GTN.A) Trading Down 5.5% – Here’s Why

Shares of Gray Media Inc. (NYSE:GTN.A) dropped 5.5% on Tuesday . The company traded as low as $5.80 and last traded at $5.80. Approximately 499 shares traded hands during trading, a decline of 94% from the average daily volume of 8,963 shares. The stock had previously closed at $6.14.

Gray Media Price Performance

The firm has a market cap of $597.31 million, a PE ratio of -9.51 and a beta of 0.51. The firm’s fifty day simple moving average is $6.92 and its two-hundred day simple moving average is $9.39. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.73.

Gray Media (NYSE:GTN.A) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.21 EPS for the quarter. Gray Media had a negative net margin of 0.83% and a negative return on equity of 1.12%. The firm had revenue of $839.00 million for the quarter.

Gray Media Company Profile

Gray Media, doing business as Gray Television, Inc, operates an extensive network of local television stations and digital platforms across the United States. The company’s broadcast portfolio offers a mix of network-affiliated programming—ranging from national news and entertainment from ABC, CBS, NBC and Fox—to locally produced content including news, sports and weather coverage. In addition to traditional broadcast, Gray Media provides digital advertising, streaming and over-the-top solutions through its websites, mobile apps and branded digital marketplaces.

Established in 1946 as Gray Communications Systems, the company went public in 2006 and adopted the Gray Television name in 2010.