Charles Schwab Investment Management Inc. Increases Position 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. lifted its holdings in Gray Media Inc. (NYSE:GTN - Free Report) by 60.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 about 1.93% of Gray Media worth $8,453,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GTN. Capital Management Corp VA boosted 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 in the last quarter. Northern Trust Corp raised its holdings in shares of Gray Media by 7.8% during the fourth quarter. Northern Trust Corp now owns 846,849 shares of the company's stock valued at $2,668,000 after acquiring an additional 61,562 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Gray Media by 903.0% during the fourth quarter. Millennium Management LLC now owns 719,201 shares of the company's stock valued at $2,265,000 after acquiring an additional 808,764 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Gray Media by 42.0% in the first quarter. Envestnet Asset Management Inc. now owns 451,435 shares of the company's stock valued at $1,950,000 after purchasing an additional 133,632 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Gray Media by 91.5% during the fourth quarter. Jane Street Group LLC now owns 376,697 shares of the company's stock worth $1,187,000 after acquiring an additional 180,001 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Jeffrey R. Gignac purchased 12,500 shares of the business's stock in a transaction dated 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 completion of the acquisition, the chief financial officer directly owned 644,599 shares in the company, valued at $2,372,124.32. The trade was a 1.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.22% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on GTN. Wall Street Zen cut Gray Media from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Benchmark reissued a "buy" rating and issued a $9.00 price objective (up from $7.00) on shares of Gray Media in a research report on Monday, August 11th. Guggenheim boosted their target price on Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. 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. Finally, Wells Fargo & Company boosted their target price 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. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.88.

Gray Media Stock Down 0.4%

GTN opened at $6.0450 on Tuesday. The business has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $4.30. 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 $617.13 million, a PE ratio of 4.00 and a beta of 1.20. Gray Media Inc. has a 52 week low of $2.91 and a 52 week high of $6.16.

Gray Media (NYSE:GTN - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.19). The company had revenue of $772.00 million for 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 firm's revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. Gray Media has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Gray Media Inc. will post 3.32 EPS for the current year.

Gray Media Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Monday, September 15th. Gray Media's payout ratio is presently 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.

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