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

Capital Management Corp VA lifted its position in shares of Gray Media Inc. (NYSE:GTN - Free Report) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,867,026 shares of the company's stock after buying an additional 1,103,690 shares during the period. Gray Media comprises about 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 reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GTN. Harbor Capital Advisors Inc. boosted its position in Gray Media by 157.6% during the first quarter. Harbor Capital Advisors Inc. now owns 8,752 shares of the company's stock valued at $38,000 after purchasing an additional 5,355 shares during the last quarter. CWM LLC boosted its position in Gray Media by 638.5% during the first quarter. CWM LLC now owns 9,615 shares of the company's stock valued at $42,000 after purchasing an additional 8,313 shares during the last quarter. Voleon Capital Management LP acquired a new position in Gray Media during the fourth quarter valued at approximately $32,000. Ameriprise Financial Inc. acquired a new position in Gray Media during the fourth quarter valued at approximately $33,000. Finally, Boothbay Fund Management LLC acquired a new position in Gray Media during the fourth quarter valued at approximately $34,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GTN. Wells Fargo & Company raised their price objective on Gray Media from $4.00 to $4.50 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Wall Street Zen upgraded Gray Media from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Benchmark lowered their target price on Gray Media from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.17.

Gray Media Price Performance

Gray Media stock traded down $0.20 during mid-day trading on Monday, reaching $4.90. 646,435 shares of the company were exchanged, compared to its average volume of 1,476,732. The company has a fifty day simple moving average of $4.40 and a 200-day simple moving average of $4.02. Gray Media Inc. has a 12 month low of $2.91 and a 12 month high of $6.61. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $497.04 million, a PE ratio of 2.12 and a beta of 1.19.

Gray Media (NYSE:GTN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.26. Gray Media had a return on equity of 12.75% and a net margin of 7.72%. The company had revenue of $782.00 million during the quarter, compared to analysts' expectations of $772.71 million. During the same quarter in the previous year, the firm earned $0.79 EPS. Gray Media's revenue was down 5.0% on a year-over-year basis. As a group, equities research analysts expect that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend was Friday, June 13th. Gray Media's dividend payout ratio (DPR) is 13.85%.

Insider Buying and Selling

In related news, CFO Jeffrey R. Gignac bought 12,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $3.68 per share, with a total value of $46,000.00. Following the acquisition, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.22% of the company's stock.

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.