Gray Media Inc. $GTN Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC sold 62,784 shares of Gray Media Inc., reducing its ownership by 41.9% to a total of 86,880 shares valued at $375,000.
• Gray Media's CFO, Jeffrey R. Gignac, bought 12,500 shares at $3.68 each, increasing his stake by 1.98%.
• Gray Media recently announced a quarterly dividend of $0.08, with an annualized yield of 5.3%, set to be paid on September 30th.

Algert Global LLC lowered its position in Gray Media Inc. (NYSE:GTN - Free Report) by 41.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,880 shares of the company's stock after selling 62,784 shares during the quarter. Algert Global LLC owned 0.09% of Gray Media worth $375,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Capital Management Corp VA increased its position in shares of Gray Media by 19.2% in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Gray Media by 60.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,956,635 shares of the company's stock valued at $8,453,000 after buying an additional 734,085 shares in the last quarter. Northern Trust Corp increased its position in shares of Gray Media by 7.8% in the fourth quarter. Northern Trust Corp now owns 846,849 shares of the company's stock valued at $2,668,000 after buying an additional 61,562 shares in the last quarter. Millennium Management LLC increased its position in shares of Gray Media by 903.0% in the fourth quarter. Millennium Management LLC now owns 719,201 shares of the company's stock valued at $2,265,000 after buying an additional 808,764 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Gray Media during the 1st quarter worth about $2,876,000. Hedge funds and other institutional investors own 78.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Guggenheim lifted their price objective on Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Barrington Research upgraded Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 price objective for the company in a research report on Monday, August 11th. Wall Street Zen cut Gray Media from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Benchmark reiterated a "buy" rating and set a $9.00 price objective (up previously from $7.00) on shares of Gray Media in a research report on Monday, August 11th. Finally, Wells Fargo & Company lifted 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. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $6.88.

Insider Transactions at Gray Media

In other Gray Media news, CFO Jeffrey R. Gignac bought 12,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $3.68 per share, with a total value of $46,000.00. Following the transaction, the chief financial officer owned 644,599 shares in the company, valued at $2,372,124.32. This trade represents a 1.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 15.22% of the company's stock.

Gray Media Trading Down 0.1%

GTN traded down $0.01 during midday trading on Friday, hitting $6.09. The company's stock had a trading volume of 322,055 shares, compared to its average volume of 1,501,755. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.56. The firm has a market cap of $621.22 million, a P/E ratio of 4.03 and a beta of 1.20. The firm has a 50-day moving average price of $5.12 and a two-hundred day moving average price of $4.34. Gray Media Inc. has a 52-week low of $2.91 and a 52-week high of $6.30.

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

Gray Media Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Monday, September 15th. Gray Media's dividend payout ratio is 21.19%.

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.