Segall Bryant & Hamill LLC Takes $1.24 Million Position in Gray Media Inc. $GTN

Key Points

• Segall Bryant & Hamill LLC acquired 285,944 shares of Gray Media, valued at approximately $1.24 million, giving it a 0.28% stake. Institutional investors collectively own 78.64% of the company.
• Analyst sentiment is mixed but averages to a “Hold” rating, with an average price target of $7.88. Ratings include three Buys, two Holds and one Sell.
• Gray Media reported quarterly revenue of $768 million, down 1.8% year over year, while adjusted EPS of negative $0.34 missed estimates by $0.02. The stock opened at $4.34, with a 52-week range of $3.50 to $6.43.

Segall Bryant & Hamill LLC purchased a new stake in Gray Media Inc. (NYSE:GTN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 285,944 shares of the company's stock, valued at approximately $1,241,000. Segall Bryant & Hamill LLC owned approximately 0.28% of Gray Media as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in Gray Media in the first quarter valued at approximately $28,000. Parallel Advisors LLC lifted its position in shares of Gray Media by 57.1% during the 1st quarter. Parallel Advisors LLC now owns 7,901 shares of the company's stock valued at $34,000 after buying an additional 2,873 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Gray Media by 68.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,401 shares of the company's stock valued at $50,000 after buying an additional 4,217 shares in the last quarter. M&T Bank Corp acquired a new stake in Gray Media in the 4th quarter valued at $51,000. Finally, AXQ Capital LP purchased a new stake in Gray Media in the 4th quarter worth $54,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Gray Media from a "sell" rating to a "hold" rating in a report on Sunday, May 17th. Weiss Ratings downgraded shares of Gray Media from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, May 15th. Barrington Research reaffirmed an "outperform" rating and issued a $6.50 price target on shares of Gray Media in a research note on Tuesday, April 28th. Finally, Guggenheim lowered their price objective on Gray Media from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $7.88.

Insiders Place Their Bets

In related news, Director Richard Lee Boger sold 57,000 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $4.40, for a total transaction of $250,800.00. Following the completion of the sale, the director owned 4,591 shares of the company's stock, valued at approximately $20,200.40. This represents a 92.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 8.95% of the company's stock.

Gray Media Trading Up 1.3%

Shares of GTN opened at $4.34 on Thursday. Gray Media Inc. has a 52-week low of $3.50 and a 52-week high of $6.43. The stock has a market cap of $446.30 million, a PE ratio of -2.84 and a beta of 0.94. The firm's fifty day moving average is $3.98 and its two-hundred day moving average is $4.52. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.72.

Gray Media (NYSE:GTN - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.02). The business had revenue of $768.00 million during the quarter, compared to analyst estimates of $768.05 million. Gray Media had a negative net margin of 3.12% and a negative return on equity of 3.07%. Gray Media's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.23) earnings per share. Research analysts forecast that Gray Media Inc. will post 1.85 earnings per share for the current fiscal year.

Gray Media Company Profile

Gray Media NYSE: GTN is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company's core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media's television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.

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