Invst LLC Takes Position in Gray Media Inc. $GTN

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 purchased a new position in shares of Gray Media Inc. (NYSE:GTN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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.

A number of other institutional investors and hedge funds have also modified their holdings of GTN. Price T Rowe Associates Inc. MD raised its stake in shares of Gray Media by 23.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 116,998 shares of the company's stock worth $369,000 after buying an additional 22,367 shares during the last quarter. Northern Trust Corp raised its stake in shares of Gray Media by 7.8% during the fourth quarter. Northern Trust Corp now owns 846,849 shares of the company's stock worth $2,668,000 after buying an additional 61,562 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Gray Media by 91.5% during the fourth quarter. Jane Street Group LLC now owns 376,697 shares of the company's stock worth $1,187,000 after buying an additional 180,001 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Gray Media during the fourth quarter worth approximately $33,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Gray Media by 1,377.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 292,335 shares of the company's stock worth $921,000 after buying an additional 272,553 shares during the last quarter. 78.64% of the stock is owned by institutional investors.

Gray Media Stock Up 3.1%

NYSE:GTN opened at $5.85 on Friday. Gray Media Inc. has a 1 year low of $2.91 and a 1 year high of $6.30. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.56. The stock has a market cap of $596.72 million, a price-to-earnings ratio of 3.87 and a beta of 1.21. The stock has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $4.48.

Gray Media (NYSE:GTN - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.19). Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $765.16 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm's revenue 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 expect that Gray Media Inc. will post 3.32 earnings per share for the current year.

Gray Media Dividend Announcement

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 dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 5.5%. Gray Media's dividend payout ratio is currently 21.19%.

Insider Activity

In other news, Director Richard Lee Boger sold 20,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $5.82, for a total transaction of $116,400.00. Following the completion of the sale, the director owned 61,343 shares of the company's stock, valued at $357,016.26. This represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GTN shares. Barrington Research raised shares of Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 price target for the company in a research note on Monday, August 11th. Guggenheim boosted their price target on shares of Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Benchmark reissued a "buy" rating and set a $9.00 price target (up from $7.00) on shares of Gray Media in a research note on Monday, August 11th. Wells Fargo & Company boosted their price objective on shares of Gray Media from $4.50 to $5.00 and gave the company an "equal weight" rating in a report on Monday, August 11th. Finally, Wall Street Zen cut shares of Gray Media from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.88.

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.

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