Russell Investments Group Ltd. Boosts Position in Gray Media Inc. $GTN

Key Points

• Russell Investments Group Ltd. increased its stake in Gray Media Inc. by 17.7% in the first quarter, owning a total of 496,295 shares valued at approximately $2.14 million.
• Gray Media reported a loss of ($0.42) earnings per share for its latest quarter, which fell short of analyst expectations, despite generating revenue of $772 million.
• The company will pay a quarterly dividend of $0.08 on September 30th, translating to an annualized dividend yield of 5.3%.

Russell Investments Group Ltd. increased its holdings in shares of Gray Media Inc. (NYSE:GTN - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 496,295 shares of the company's stock after purchasing an additional 74,696 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.49% of Gray Media worth $2,144,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GTN. Voleon Capital Management LP purchased a new stake in Gray Media during the fourth quarter worth approximately $32,000. Ameriprise Financial Inc. acquired a new position in Gray Media during the fourth quarter worth approximately $33,000. Boothbay Fund Management LLC acquired a new position in Gray Media during the fourth quarter worth approximately $34,000. Harbor Capital Advisors Inc. increased its position in Gray Media by 157.6% during the first quarter. Harbor Capital Advisors Inc. now owns 8,752 shares of the company's stock worth $38,000 after buying an additional 5,355 shares during the period. Finally, CWM LLC increased its position in Gray Media by 638.5% during the first quarter. CWM LLC now owns 9,615 shares of the company's stock worth $42,000 after buying an additional 8,313 shares during the period. Hedge funds and other institutional investors own 78.64% of the company's stock.

Gray Media Price Performance

GTN stock traded up $0.06 on Friday, reaching $6.15. 873,849 shares of the company's stock were exchanged, compared to its average volume of 1,751,602. The stock has a fifty day moving average of $5.16 and a 200-day moving average of $4.36. Gray Media Inc. has a twelve month low of $2.91 and a twelve month high of $6.30. The firm has a market cap of $627.34 million, a PE ratio of 4.07 and a beta of 1.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.56.

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

Gray Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Monday, September 15th. Gray Media's dividend payout ratio is currently 21.19%.

Analyst Ratings Changes

Several research firms have commented on GTN. Wall Street Zen lowered Gray Media from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company lifted their price target on Gray Media from $4.50 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, August 11th. Barrington Research raised Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 price target on the stock in a research report on Monday, August 11th. Guggenheim boosted 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. Finally, Benchmark reissued a "buy" rating and issued a $9.00 target price (up previously from $7.00) on shares of Gray Media in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Gray Media has an average rating of "Moderate Buy" and a consensus price target of $6.88.

Insiders Place Their Bets

In other Gray Media news, CFO Jeffrey R. Gignac acquired 12,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $3.68 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief financial officer directly owned 644,599 shares of the company's stock, valued at approximately $2,372,124.32. The trade was a 1.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 15.22% of the stock is owned by corporate insiders.

About Gray Media

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.