467,155 Shares in Gray Media Inc. $GTN Acquired by Invst LLC

Key Points

• Invst LLC has acquired a new position in Gray Media Inc., purchasing 467,155 shares valued at approximately $2,018,000, representing 0.46% ownership of the company.
• Gray Media reported a loss of $0.42 earnings per share for the latest quarter, missing projections by $0.19, along with a 6.5% decline in year-over-year revenue.
• The company has announced a quarterly dividend of $0.08 per share, yielding 5.5% annually, with an ex-dividend date set for September 15th.

Invst LLC bought a new stake in shares of Gray Media Inc. (NYSE:GTN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 467,155 shares of the company's stock, valued at approximately $2,018,000. Invst LLC owned about 0.46% of Gray Media at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP increased its position in shares of Gray Media by 102.3% during the fourth quarter. Two Sigma Investments LP now owns 176,644 shares of the company's stock worth $556,000 after purchasing an additional 89,319 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Gray Media by 292.4% during the first quarter. HighTower Advisors LLC now owns 205,016 shares of the company's stock worth $886,000 after buying an additional 152,766 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Gray Media during the first quarter worth $2,876,000. Russell Investments Group Ltd. raised its position in shares of Gray Media by 17.7% in the first quarter. Russell Investments Group Ltd. now owns 496,295 shares of the company's stock valued at $2,144,000 after buying an additional 74,696 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 worth $8,453,000 after buying an additional 734,085 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

Insider Activity

In related news, Director Richard Lee Boger sold 20,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $5.82, for a total transaction of $116,400.00. Following the completion of the sale, the director directly owned 61,343 shares of the company's stock, valued at approximately $357,016.26. This trade represents a 24.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Gray Media from $4.50 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, August 11th. Barrington Research upgraded Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 target price on the stock 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. Benchmark reiterated a "buy" rating and set a $9.00 price objective (up previously from $7.00) on shares of Gray Media in a research report on Monday, August 11th. Finally, Guggenheim upped 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 investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Gray Media currently has an average rating of "Moderate Buy" and a consensus price target of $6.88.

Gray Media Trading Down 0.1%

Shares of NYSE GTN traded down $0.01 during midday trading on Wednesday, reaching $5.60. 333,476 shares of the stock were exchanged, compared to its average volume of 1,471,615. The company has a 50 day simple moving average of $5.45 and a 200 day simple moving average of $4.52. The stock has a market capitalization of $571.19 million, a P/E ratio of 3.71 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. Gray Media Inc. has a twelve month low of $2.91 and a twelve month high of $6.30.

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

Gray Media Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.7%. Gray Media's dividend payout ratio is currently 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.