83,000 Shares in Gray Media Inc. (NYSE:GTN) Bought by Bailard Inc.

Bailard Inc. acquired a new stake in shares of Gray Media Inc. (NYSE:GTN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 83,000 shares of the company's stock, valued at approximately $359,000. Bailard Inc. owned about 0.08% of Gray Media as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. raised its position in Gray Media by 157.6% in 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 increased its holdings in shares of 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 buying an additional 8,313 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of Gray Media during the fourth quarter worth approximately $32,000. Ameriprise Financial Inc. acquired a new stake in shares of Gray Media during the fourth quarter worth approximately $33,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Gray Media during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Insider Transactions at Gray Media

In other Gray Media news, CFO Jeffrey R. Gignac acquired 12,500 shares of Gray Media stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $3.68 per share, with a total value of $46,000.00. Following the completion of the purchase, the chief financial officer owned 644,599 shares in the company, valued at $2,372,124.32. The trade was a 1.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 15.22% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GTN shares. Benchmark dropped their price objective on shares of Gray Media from $8.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company raised their price objective on shares of Gray Media from $4.00 to $4.50 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised shares of Gray Media from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.17.

Gray Media Price Performance

Shares of GTN traded down $0.05 during mid-day trading on Friday, hitting $5.11. 1,466,111 shares of the company traded hands, compared to its average volume of 1,435,689. Gray Media Inc. has a one year low of $2.91 and a one year high of $6.61. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.48. The business has a 50-day moving average of $4.40 and a 200 day moving average of $4.01. The stock has a market capitalization of $518.87 million, a price-to-earnings ratio of 2.21 and a beta of 1.19.

Gray Media (NYSE:GTN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.26. Gray Media had a net margin of 7.72% and a return on equity of 12.75%. The business had revenue of $782.00 million for the quarter, compared to analysts' expectations of $772.71 million. During the same period in the prior year, the firm earned $0.79 earnings per share. Gray Media's revenue was down 5.0% compared to the same quarter last year. As a group, equities analysts expect that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.32 dividend on an annualized basis and a yield of 6.26%. Gray Media's payout ratio is presently 13.85%.

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.