Nuveen LLC Takes Position in Gray Media Inc. $GTN

Key Points

• Nuveen LLC acquired 665,709 shares of Gray Media Inc. for approximately $2.88 million, increasing its ownership to about 0.66% as of the latest reporting period.
• Institutional investors hold about 78.64% of Gray Media's stock, with notable increases in stakes from firms like Capital Management Corp VA and Lazard Asset Management LLC.
• Gray Media reported a loss of $0.42 EPS for the last quarter, which missed analysts' estimates, while the company also announced a quarterly dividend of $0.08, representing a annualized yield of 5.3%.

Nuveen LLC bought a new stake in shares of Gray Media Inc. (NYSE:GTN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 665,709 shares of the company's stock, valued at approximately $2,876,000. Nuveen LLC owned about 0.66% of Gray Media as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GTN. Capital Management Corp VA raised its position in Gray Media by 19.2% during the first quarter. Capital Management Corp VA now owns 6,867,026 shares of the company's stock valued at $29,666,000 after buying an additional 1,103,690 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Gray Media by 60.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,956,635 shares of the company's stock worth $8,453,000 after acquiring an additional 734,085 shares during the period. Northern Trust Corp lifted its position in shares of Gray Media by 7.8% during the 4th quarter. Northern Trust Corp now owns 846,849 shares of the company's stock worth $2,668,000 after buying an additional 61,562 shares during the period. Millennium Management LLC lifted its position in shares of Gray Media by 903.0% during the 4th quarter. Millennium Management LLC now owns 719,201 shares of the company's stock worth $2,265,000 after buying an additional 808,764 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Gray Media by 42.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 451,435 shares of the company's stock valued at $1,950,000 after purchasing an additional 133,632 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GTN shares. Barrington Research raised Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 price objective for the company in a research note on Monday, August 11th. Wells Fargo & Company boosted their price target on Gray Media from $4.50 to $5.00 and gave the company an "equal weight" rating in a report on Monday, August 11th. Guggenheim upped their target price on Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Benchmark reiterated a "buy" rating and set a $9.00 target price (up previously from $7.00) on shares of Gray Media in a research note on Monday, August 11th. Finally, Wall Street Zen downgraded Gray Media from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $6.88.

Gray Media Stock Down 3.0%

Gray Media stock traded down $0.19 during midday trading on Tuesday, reaching $5.95. The stock had a trading volume of 438,092 shares, compared to its average volume of 1,498,707. Gray Media Inc. has a 12 month low of $2.91 and a 12 month high of $6.30. The company has a market capitalization of $606.93 million, a P/E ratio of 3.94 and a beta of 1.21. The company has a fifty day moving average price of $5.19 and a two-hundred day moving average price of $4.38. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.56.

Gray Media (NYSE:GTN - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.19). The firm had revenue of $772.00 million during the quarter, compared to the consensus estimate of $765.16 million. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The business's quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 earnings per share. Gray Media has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Gray Media Inc. will post 3.32 EPS for the current fiscal year.

Gray Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Monday, September 15th. Gray Media's payout ratio is currently 21.19%.

Insider Buying and Selling

In related news, CFO Jeffrey R. Gignac acquired 12,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $3.68 per share, with a total value of $46,000.00. Following the acquisition, the chief financial officer owned 644,599 shares of the company's stock, valued at approximately $2,372,124.32. This trade represents a 1.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.22% of the company's stock.

About Gray Media

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.