Charles Schwab Investment Management Inc. Raises Stock Holdings in Gray Media Inc. $GTN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Gray Media Inc. by 60.0%, owning approximately 1.93% of the company valued at $8.45 million after acquiring additional shares.
• Gray Media's recent earnings report revealed a loss of ($0.42) EPS for the quarter, below the consensus estimate, despite revenue of $772 million surpassing expectations.
• The company announced a quarterly dividend of $0.08 per share, providing a yield of 5.3%, with the ex-dividend date set for September 15th.

Charles Schwab Investment Management Inc. boosted its holdings in Gray Media Inc. (NYSE:GTN - Free Report) by 60.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,956,635 shares of the company's stock after purchasing an additional 734,085 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.93% of Gray Media worth $8,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Voleon Capital Management LP acquired a new stake in Gray Media during the fourth quarter worth about $32,000. Ameriprise Financial Inc. acquired a new stake in Gray Media during the fourth quarter worth about $33,000. Boothbay Fund Management LLC acquired a new stake in Gray Media during the fourth quarter worth about $34,000. Harbor Capital Advisors Inc. increased 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 acquiring an additional 5,355 shares during the last quarter. Finally, CWM LLC increased 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 acquiring an additional 8,313 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GTN shares. Wall Street Zen lowered Gray Media from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company upped their price target on Gray Media from $4.50 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, August 11th. Guggenheim upped their price target on Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Benchmark reiterated a "buy" rating and issued a $9.00 target price (up previously from $7.00) on shares of Gray Media in a research note on Monday, August 11th. Finally, Barrington Research upgraded Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 target price for the company in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.88.

Insider Buying and Selling

In other Gray Media news, CFO Jeffrey R. Gignac purchased 12,500 shares of Gray Media 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 completion of the acquisition, the chief financial officer owned 644,599 shares of the company's stock, valued at approximately $2,372,124.32. This trade represents a 1.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.22% of the company's stock.

Gray Media Stock Up 0.9%

Shares of GTN stock traded up $0.06 during trading hours on Friday, reaching $6.15. The company had a trading volume of 873,849 shares, compared to its average volume of 1,724,692. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.87 and a current ratio of 0.87. Gray Media Inc. has a twelve month low of $2.91 and a twelve month high of $6.30. The company has a market capitalization of $627.34 million, a P/E ratio of 4.07 and a beta of 1.21. The stock's fifty day simple moving average is $5.16 and its 200 day simple 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) EPS 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 analysts' expectations of $765.16 million. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The company's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. Gray Media has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

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

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.