Virtu Financial LLC Sells 49,876 Shares of Gray Media Inc. $GTN

Key Points

• Virtu Financial LLC reduced its stake in Gray Media Inc. by 48.4% in the first quarter, now owning about 0.05% of the company's stock valued at $229,000.
• Gray Media recently reported a quarterly loss of (0.42) earnings per share, missing estimates, despite generating $772 million in revenue for the quarter.
• The company declared a quarterly dividend of $0.08 per share, with a yield of 5.4%, payable on September 30th.

Virtu Financial LLC trimmed its stake in Gray Media Inc. (NYSE:GTN - Free Report) by 48.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,119 shares of the company's stock after selling 49,876 shares during the period. Virtu Financial LLC owned approximately 0.05% of Gray Media worth $229,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GTN. Voleon Capital Management LP bought a new position in shares of Gray Media in the fourth quarter worth approximately $32,000. Ameriprise Financial Inc. bought a new position in shares of Gray Media in the fourth quarter worth approximately $33,000. Boothbay Fund Management LLC bought a new position in shares of Gray Media in the fourth quarter worth approximately $34,000. Harbor Capital Advisors Inc. grew 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 valued at $38,000 after acquiring an additional 5,355 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Gray Media by 214,100.0% during the fourth quarter. Federated Hermes Inc. now owns 12,852 shares of the company's stock valued at $40,000 after acquiring an additional 12,846 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GTN shares. Wall Street Zen cut shares of Gray Media from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Benchmark reiterated a "buy" rating and set a $9.00 price target (up from $7.00) on shares of Gray Media in a research report on Monday, August 11th. Wells Fargo & Company raised their target price on shares of Gray Media from $4.50 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, August 11th. Barrington Research upgraded shares of Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 target price on the stock in a report on Monday, August 11th. Finally, Guggenheim raised their target price on shares of Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.88.

Gray Media Stock Up 1.7%

Gray Media stock traded up $0.0950 on Wednesday, hitting $5.8150. 449,316 shares of the stock traded hands, compared to its average volume of 1,518,809. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.56. The firm has a market cap of $593.65 million, a P/E ratio of 3.85 and a beta of 1.20. The business's fifty day simple moving average is $4.84 and its 200 day simple moving average is $4.25. Gray Media Inc. has a 1 year low of $2.91 and a 1 year high of $6.16.

Gray Media (NYSE:GTN - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.19). The firm had revenue of $772.00 million for the quarter, compared to analysts' expectations of $765.16 million. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. Gray Media has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Gray Media Inc. will post 3.32 earnings per share for the current year.

Gray Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 5.5%. Gray Media's payout ratio is currently 21.19%.

Insider Activity

In other news, CFO Jeffrey R. Gignac acquired 12,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $3.68 per share, with a total value of $46,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 15.22% of the stock is owned by company insiders.

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.