Capital Management Corp VA Has $29.67 Million Stock Holdings in Gray Media Inc. (NYSE:GTN)

Capital Management Corp VA raised its position in Gray Media Inc. (NYSE:GTN - Free Report) by 19.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,867,026 shares of the company's stock after acquiring an additional 1,103,690 shares during the period. Gray Media makes up 5.1% of Capital Management Corp VA's investment portfolio, making the stock its 2nd largest holding. Capital Management Corp VA owned 6.76% of Gray Media worth $29,666,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its holdings in shares of Gray Media by 30.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 14,146 shares of the company's stock valued at $45,000 after purchasing an additional 3,262 shares in the last quarter. Mariner LLC increased its holdings in Gray Media by 18.7% during the 4th quarter. Mariner LLC now owns 21,740 shares of the company's stock valued at $68,000 after acquiring an additional 3,419 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Gray Media by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 336,905 shares of the company's stock valued at $1,061,000 after acquiring an additional 3,737 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Gray Media by 157.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 8,752 shares of the company's stock valued at $38,000 after acquiring an additional 5,355 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Gray Media by 20.7% during the 4th quarter. Intech Investment Management LLC now owns 32,201 shares of the company's stock valued at $101,000 after acquiring an additional 5,528 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

Insider Buying and Selling

In other news, CFO Jeffrey R. Gignac acquired 12,500 shares of Gray Media stock in a transaction on 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 purchase, the chief financial officer owned 644,599 shares of the company's stock, valued at $2,372,124.32. This represents a 1.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 15.22% of the company's stock.

Gray Media Stock Performance

Shares of Gray Media stock traded down $0.05 during trading on Friday, hitting $5.11. 1,466,111 shares of the stock were exchanged, compared to its average volume of 1,434,007. The stock's fifty day moving average is $4.40 and its 200 day moving average is $4.01. The stock has a market cap of $518.88 million, a PE ratio of 2.21 and a beta of 1.19. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.91 and a current ratio of 0.91. Gray Media Inc. has a 12 month low of $2.91 and a 12 month high of $6.61.

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, topping the consensus estimate of ($0.49) by $0.26. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $772.71 million. Gray Media had a net margin of 7.72% and a return on equity of 12.75%. The company's quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Gray Media Inc. will post 3.32 EPS for the current year.

Gray Media Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Gray Media from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Benchmark lowered their price target 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. Finally, Wells Fargo & Company lifted their price target 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $6.17.

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.