Jump Financial LLC Sells 168,466 Shares of Gray Media Inc. $GTN

Key Points

• Jump Financial LLC reduced its holdings in Gray Media Inc. by 85.3%, selling 168,466 shares and maintaining 28,960 shares valued at $125,000.
• Gray Media's quarterly earnings results showed a loss of ($0.42) EPS, missing analysts' expectations, while reporting revenue of $772 million, exceeding estimates of $765.16 million.
• The company announced a quarterly dividend of $0.08 per share, with an annual yield of 5.2%, payable on September 30th, 2023.

Jump Financial LLC reduced its position in shares of Gray Media Inc. (NYSE:GTN - Free Report) by 85.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,960 shares of the company's stock after selling 168,466 shares during the period. Jump Financial LLC's holdings in Gray Media were worth $125,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. purchased a new stake in Gray Media in the fourth quarter worth about $33,000. Harbor Capital Advisors Inc. lifted its holdings 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 buying an additional 5,355 shares during the period. CWM LLC lifted its holdings in Gray Media by 638.5% in 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 during the period. Public Employees Retirement System of Ohio lifted its holdings in Gray Media by 30.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 14,146 shares of the company's stock worth $45,000 after buying an additional 3,262 shares during the period. Finally, Welch Group LLC purchased a new stake in Gray Media in the first quarter worth about $53,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Gray Media Stock Up 1.4%

Shares of GTN traded up $0.09 on Monday, hitting $6.21. 1,007,848 shares of the stock traded hands, compared to its average volume of 1,509,476. The company has a market capitalization of $633.47 million, a PE ratio of 4.11 and a beta of 1.21. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.87 and a current ratio of 0.87. The business has a 50 day simple moving average of $5.35 and a 200 day simple moving average of $4.45. Gray Media Inc. has a one year low of $2.91 and a one year high of $6.30.

Gray Media (NYSE:GTN - Get Free Report) last posted its 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). Gray Media had a return on equity of 10.31% and a net margin of 5.64%.The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $765.16 million. During the same period last year, the firm posted $0.09 EPS. The company'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. As a group, equities analysts forecast 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 will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.2%. Gray Media's payout ratio is presently 21.19%.

Wall Street Analyst Weigh In

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

About Gray Media

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.