189,780 Shares in Gray Media Inc. $GTN Purchased by Aristeia Capital L.L.C.

Key Points

• Aristeia Capital L.L.C. has made a new investment of approximately $820,000 in Gray Media Inc., acquiring 189,780 shares during the first quarter.
• Gray Media reported a quarterly revenue of $772 million, slightly beating analysts' expectations, but missed EPS estimates with a loss of ($0.42).
• The company recently announced a quarterly dividend of $0.08, representing a yield of 5.2%, to be paid on September 30th to investors of record.

Aristeia Capital L.L.C. purchased a new position in shares of Gray Media Inc. (NYSE:GTN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 189,780 shares of the company's stock, valued at approximately $820,000. Aristeia Capital L.L.C. owned approximately 0.19% of Gray Media as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GTN. Ameriprise Financial Inc. acquired a new position in Gray Media during the fourth quarter worth $33,000. Harbor Capital Advisors Inc. lifted its stake in Gray Media by 157.6% during the first quarter. Harbor Capital Advisors Inc. now owns 8,752 shares of the company's stock worth $38,000 after purchasing an additional 5,355 shares in the last quarter. CWM LLC lifted its stake in Gray Media by 638.5% during the first quarter. CWM LLC now owns 9,615 shares of the company's stock worth $42,000 after purchasing an additional 8,313 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Gray Media by 30.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 14,146 shares of the company's stock worth $45,000 after purchasing an additional 3,262 shares in the last quarter. Finally, Welch Group LLC acquired a new position in Gray Media during the first quarter worth $53,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GTN has been the topic of a number of research reports. Benchmark restated a "buy" rating and set a $9.00 price target (up from $7.00) on shares of Gray Media in a research note on Monday, August 11th. Wall Street Zen cut Gray Media from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company increased their price objective on Gray Media from $4.50 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, August 11th. Guggenheim increased their price objective on Gray Media from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Finally, Barrington Research upgraded Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 price objective on the stock in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Gray Media has a consensus rating of "Moderate Buy" and a consensus price target of $6.88.

Insider Activity

In other Gray Media news, Director Richard Lee Boger sold 20,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $5.82, for a total transaction of $116,400.00. Following the transaction, the director owned 61,343 shares of the company's stock, valued at approximately $357,016.26. This trade represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 15.22% of the company's stock.

Gray Media Stock Down 0.2%

Gray Media stock traded down $0.01 during midday trading on Friday, reaching $5.86. The company's stock had a trading volume of 1,326,925 shares, compared to its average volume of 1,125,828. Gray Media Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $6.30. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.56. The company has a market cap of $598.25 million, a P/E ratio of 3.88 and a beta of 1.21. The business has a 50-day simple moving average of $5.42 and a 200-day simple moving average of $4.49.

Gray Media (NYSE:GTN - Get Free Report) last posted 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). The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $765.16 million. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The firm's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. Gray Media has set its Q3 2025 guidance at EPS. On average, research analysts expect that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 5.5%. Gray Media's dividend payout ratio (DPR) is presently 21.19%.

Gray Media Company 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.