Gray Media Inc. $GTN Position Reduced 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 cut its position in Gray Media Inc. (NYSE:GTN - Free Report) by 41.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,880 shares of the company's stock after selling 62,784 shares during the quarter. Algert Global LLC owned about 0.09% of Gray Media worth $375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GTN. Capital Management Corp VA grew its position in Gray Media by 19.2% in the 1st quarter. Capital Management Corp VA now owns 6,867,026 shares of the company's stock worth $29,666,000 after purchasing an additional 1,103,690 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 734,085 shares during the last quarter. Northern Trust Corp grew its position in Gray Media by 7.8% in the 4th quarter. Northern Trust Corp now owns 846,849 shares of the company's stock worth $2,668,000 after purchasing an additional 61,562 shares during the last quarter. Millennium Management LLC grew its position in Gray Media by 903.0% in the 4th quarter. Millennium Management LLC now owns 719,201 shares of the company's stock worth $2,265,000 after purchasing an additional 808,764 shares during the last quarter. Finally, Nuveen LLC bought a new position in Gray Media in the 1st quarter worth about $2,876,000. Institutional investors own 78.64% of the company's stock.

Gray Media Price Performance

NYSE GTN traded up $0.06 on Friday, reaching $6.15. The company's stock had a trading volume of 873,849 shares, compared to its average volume of 1,751,602. Gray Media Inc. has a twelve month low of $2.91 and a twelve month high of $6.30. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $627.34 million, a PE ratio of 4.07 and a beta of 1.20. The firm's 50 day moving average is $5.16 and its two-hundred day moving average is $4.36.

Gray Media (NYSE:GTN - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $765.16 million. During the same period in the previous year, the company posted $0.09 earnings per share. Gray Media's revenue was down 6.5% compared to the same quarter last year. Gray Media has set its Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Gray Media Inc. will post 3.32 EPS for the current year.

Gray Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Monday, September 15th. Gray Media's dividend payout ratio is presently 21.19%.

Insiders Place Their Bets

In other Gray Media news, CFO Jeffrey R. Gignac purchased 12,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was bought 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 $2,372,124.32. The trade was a 1.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 15.22% of the company's stock.

Analyst Upgrades and Downgrades

GTN has been the subject of several recent analyst reports. Guggenheim upped their target price on shares of Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Wall Street Zen cut shares of Gray Media from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company upped their price objective on shares of Gray Media from $4.50 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, August 11th. Benchmark reaffirmed a "buy" rating and issued a $9.00 price objective (up previously from $7.00) on shares of Gray Media in a report on Monday, August 11th. Finally, Barrington Research raised shares of Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 price objective for the company in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.88.

Gray Media Profile

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.