Gray Media Inc. $GTN Shares Purchased by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in Gray Media Inc. by 292.4% during the first quarter, now owning approximately 0.20% of the company, valued at $886,000.
• The company's recent earnings report revealed a loss of ($0.42) EPS, missing estimates, while revenue was up slightly to $772 million.
• Gray Media declared a quarterly dividend of $0.08 per share, with a dividend yield of 5.1%, which will be paid to shareholders on September 30th.

HighTower Advisors LLC raised its stake in Gray Media Inc. (NYSE:GTN - Free Report) by 292.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,016 shares of the company's stock after acquiring an additional 152,766 shares during the quarter. HighTower Advisors LLC owned approximately 0.20% of Gray Media worth $886,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Two Sigma Investments LP lifted its holdings in Gray Media by 102.3% in the fourth quarter. Two Sigma Investments LP now owns 176,644 shares of the company's stock valued at $556,000 after acquiring an additional 89,319 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Gray Media by 60.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,956,635 shares of the company's stock valued at $8,453,000 after purchasing an additional 734,085 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in Gray Media in the fourth quarter valued at approximately $402,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Gray Media by 49.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 357,198 shares of the company's stock valued at $1,125,000 after purchasing an additional 117,827 shares during the period. Finally, KLP Kapitalforvaltning AS grew its holdings in Gray Media by 481.0% in the first quarter. KLP Kapitalforvaltning AS now owns 79,600 shares of the company's stock valued at $344,000 after purchasing an additional 65,900 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on GTN shares. Benchmark reissued a "buy" rating and set a $9.00 target price (up previously from $7.00) on shares of Gray Media in a report on Monday, August 11th. Barrington Research raised 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. Wells Fargo & Company increased their target price on Gray Media from $4.50 to $5.00 and gave the company an "equal weight" rating in a report on Monday, August 11th. Wall Street Zen cut Gray Media from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Guggenheim increased their target price on Gray Media from $6.00 to $7.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $6.88.

Gray Media Stock Down 1.8%

Shares of GTN stock traded down $0.11 during trading on Tuesday, reaching $6.02. The company's stock had a trading volume of 82,768 shares, compared to its average volume of 1,496,359. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $614.28 million, a price-to-earnings ratio of 3.99 and a beta of 1.21. The stock's 50-day moving average price is $5.19 and its 200 day moving average price is $4.38. Gray Media Inc. has a 1-year low of $2.91 and a 1-year high of $6.30.

Gray Media (NYSE:GTN - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.19). The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $765.16 million. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The company's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. Gray Media has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Gray Media Inc. will post 3.32 EPS for the current year.

Gray Media Announces Dividend

The business 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 $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Monday, September 15th. Gray Media's dividend payout ratio is currently 21.19%.

Insider Activity at Gray Media

In other news, CFO Jeffrey R. Gignac acquired 12,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $3.68 per share, for a total transaction of $46,000.00. Following the acquisition, the chief financial officer directly owned 644,599 shares in the company, valued at approximately $2,372,124.32. This represents a 1.98% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 15.22% of the stock is currently owned by corporate insiders.

Gray Media Company 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.