Bridgeway Capital Management LLC reduced its stake in Gray Media Inc. (NYSE:GTN - Free Report) by 39.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 725,959 shares of the company's stock after selling 468,827 shares during the period. Bridgeway Capital Management LLC owned 0.71% of Gray Media worth $3,136,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in GTN. Graham Capital Management L.P. boosted its stake in Gray Media by 17.0% during the 1st quarter. Graham Capital Management L.P. now owns 216,978 shares of the company's stock valued at $937,000 after purchasing an additional 31,587 shares in the last quarter. Corsair Capital Management L.P. bought a new stake in Gray Media in the first quarter worth about $177,000. Ieq Capital LLC acquired a new stake in Gray Media in the 1st quarter valued at about $85,000. FORA Capital LLC acquired a new position in shares of Gray Media in the 1st quarter worth approximately $85,000. Finally, MetLife Investment Management LLC grew its position in Gray Media by 34.1% in the first quarter. MetLife Investment Management LLC now owns 46,367 shares of the company's stock worth $200,000 after buying an additional 11,792 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on GTN. Guggenheim upped their target price on Gray Media from $6.00 to $7.00 and gave the company a "buy" rating in a report on Thursday, August 14th. 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 research note on Monday, August 11th. Wall Street Zen downgraded shares of Gray Media from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Benchmark restated a "buy" rating and issued a $9.00 price target (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 objective on shares of Gray Media from $4.50 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.88.
Check Out Our Latest Report on GTN
Gray Media Stock Down 4.2%
Shares of Gray Media stock traded down $0.25 on Wednesday, hitting $5.61. 900,232 shares of the company traded hands, compared to its average volume of 1,484,280. Gray Media Inc. has a 12-month low of $2.91 and a 12-month 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 $572.21 million, a PE ratio of 3.72 and a beta of 1.21. The company has a 50-day moving average price of $5.37 and a 200 day moving average price of $4.46.
Gray Media (NYSE:GTN - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.42) earnings per share (EPS) 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 firm had revenue of $772.00 million for the quarter, compared to analyst estimates of $765.16 million. During the same period in the previous year, the business posted $0.09 EPS. Gray Media's revenue for the quarter was down 6.5% on a year-over-year basis. Gray Media has set its Q3 2025 guidance at EPS. Sell-side analysts predict 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 paid a dividend of $0.08 per share. The ex-dividend date is Monday, September 15th. This represents a $0.32 annualized dividend and a yield of 5.7%. Gray Media's dividend payout ratio is presently 21.19%.
About Gray Media
(
Free Report)
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.
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