Russell Investments Group Ltd. Raises Stock 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. lifted its stake in Gray Media Inc. (NYSE:GTN - Free Report) by 17.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 496,295 shares of the company's stock after buying an additional 74,696 shares during the quarter. Russell Investments Group Ltd. owned about 0.49% of Gray Media worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Capital Management Corp VA boosted its stake in shares of Gray Media by 19.2% in the first quarter. Capital Management Corp VA now owns 6,867,026 shares of the company's stock worth $29,666,000 after acquiring an additional 1,103,690 shares during the period. Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 734,085 shares during the period. Northern Trust Corp boosted its stake in shares of Gray Media by 7.8% in the fourth quarter. Northern Trust Corp now owns 846,849 shares of the company's stock worth $2,668,000 after acquiring an additional 61,562 shares during the period. Millennium Management LLC boosted its stake in shares of Gray Media by 903.0% in the fourth quarter. Millennium Management LLC now owns 719,201 shares of the company's stock worth $2,265,000 after acquiring an additional 808,764 shares during the period. Finally, Nuveen LLC bought a new position in shares of Gray Media in the first quarter worth about $2,876,000. Institutional investors own 78.64% of the company's stock.

Gray Media Price Performance

Gray Media stock traded up $0.06 during midday trading on Friday, reaching $6.15. 873,849 shares of the stock traded hands, compared to its average volume of 1,724,692. The stock's fifty day moving average is $5.16 and its 200-day moving average is $4.36. Gray Media Inc. has a 12 month low of $2.91 and a 12 month high of $6.30. The stock has a market cap of $627.34 million, a P/E ratio of 4.07 and a beta of 1.21. 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 issued its quarterly earnings data on Friday, August 8th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.19). Gray Media had a return on equity of 10.31% and a net margin of 5.64%.The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $765.16 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The company's revenue was down 6.5% compared to the same quarter last year. Gray Media has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Gray Media Inc. will post 3.32 EPS for the current year.

Gray Media Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Jeffrey R. Gignac acquired 12,500 shares of Gray Media stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $3.68 per share, with a total value 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 $2,372,124.32. The trade was a 1.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 15.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GTN shares. Barrington Research raised Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 price objective for the company in a research note on Monday, August 11th. Wells Fargo & Company raised their price objective on Gray Media from $4.50 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, August 11th. Wall Street Zen lowered Gray Media from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Guggenheim increased their price target on Gray Media from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Finally, 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. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.