Gray Media Inc. (NYSE:GTN) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP lowered its stake in shares of Gray Media Inc. (NYSE:GTN - Free Report) by 34.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 131,925 shares of the company's stock after selling 68,075 shares during the period. Readystate Asset Management LP owned approximately 0.13% of Gray Media worth $570,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Capital Management Corp VA grew its holdings in Gray Media by 19.2% during the 1st quarter. Capital Management Corp VA now owns 6,867,026 shares of the company's stock valued at $29,666,000 after buying an additional 1,103,690 shares in the last quarter. Miller Value Partners LLC grew its holdings in Gray Media by 132.1% during the 4th quarter. Miller Value Partners LLC now owns 3,384,450 shares of the company's stock valued at $10,661,000 after buying an additional 1,926,330 shares in the last quarter. Marshall Wace LLP grew its holdings in Gray Media by 52.6% during the 4th quarter. Marshall Wace LLP now owns 1,161,862 shares of the company's stock valued at $3,660,000 after buying an additional 400,274 shares in the last quarter. Northern Trust Corp grew its holdings in Gray Media by 7.8% during the 4th quarter. Northern Trust Corp now owns 846,849 shares of the company's stock valued at $2,668,000 after buying an additional 61,562 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Gray Media by 903.0% during the 4th quarter. Millennium Management LLC now owns 719,201 shares of the company's stock valued at $2,265,000 after buying an additional 808,764 shares in the last quarter. Institutional investors own 78.64% of the company's stock.

Insider Buying and Selling

In other Gray Media news, CFO Jeffrey R. Gignac bought 12,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $3.68 per share, for a total transaction of $46,000.00. Following the transaction, the chief financial officer directly owned 644,599 shares of the company's stock, valued at approximately $2,372,124.32. This represents a 1.98% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 15.22% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Gray Media from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Benchmark decreased their target price on Gray Media from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lifted their target price on Gray Media from $4.00 to $4.50 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $6.17.

Gray Media Stock Down 3.6%

Shares of GTN stock traded down $0.19 on Friday, hitting $4.96. The stock had a trading volume of 895,111 shares, compared to its average volume of 1,511,284. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.48. The business has a 50 day moving average price of $4.47 and a 200 day moving average price of $4.06. The company has a market cap of $503.13 million, a PE ratio of 2.15 and a beta of 1.19. Gray Media Inc. has a one year low of $2.91 and a one year high of $6.61.

Gray Media (NYSE:GTN - Get Free Report) last announced its 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. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $772.71 million. Gray Media had a net margin of 7.72% and a return on equity of 12.75%. The firm's revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. Research analysts anticipate that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.08 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.32 annualized dividend and a yield of 6.46%. Gray Media's dividend payout ratio is presently 13.85%.

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.