Readystate Asset Management LP lowered its stake in Gray Media Inc. (NYSE:GTN - Free Report) by 34.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund 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 filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Two Sigma Investments LP increased its position in Gray Media by 102.3% in the 4th 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. Dynamic Technology Lab Private Ltd purchased a new stake in Gray Media during the fourth quarter worth about $425,000. D. E. Shaw & Co. Inc. purchased a new stake in Gray Media during the fourth quarter worth about $402,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 worth $1,125,000 after purchasing an additional 117,827 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of Gray Media in the fourth quarter worth about $584,000. Institutional investors own 78.64% of the company's stock.
Insider Transactions at Gray Media
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 bought at an average price of $3.68 per share, for a total transaction of $46,000.00. Following the completion of the purchase, the chief financial officer directly owned 644,599 shares of the company's stock, valued at approximately $2,372,124.32. This trade represents a 1.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.22% of the stock is owned by company insiders.
Gray Media Price Performance
Shares of GTN stock traded down $0.16 on Thursday, reaching $5.16. The company's stock had a trading volume of 1,264,461 shares, compared to its average volume of 1,484,932. The company has a market capitalization of $523.44 million, a price-to-earnings ratio of 2.23 and a beta of 1.19. The stock's fifty day simple moving average is $4.43 and its 200-day simple moving average is $4.04. Gray Media Inc. has a 1 year low of $2.91 and a 1 year high of $6.61. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.48.
Gray Media (NYSE:GTN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $772.71 million. Gray Media had a return on equity of 12.75% and a net margin of 7.72%. The firm's quarterly 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. Analysts forecast that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.
Gray Media Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.08 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.32 annualized dividend and a yield of 6.21%. Gray Media's dividend payout ratio (DPR) is presently 13.85%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on GTN shares. Wells Fargo & Company boosted their price objective on shares of Gray Media from $4.00 to $4.50 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Benchmark dropped their target price on shares of Gray Media from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Gray Media from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Gray Media presently has an average rating of "Hold" and a consensus target price of $6.17.
Get Our Latest Report on GTN
Gray Media Profile
(
Free Report)
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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