Gray Media (NYSE:GTN) Director Richard Lee Boger Sells 20,000 Shares

Key Points

• Gray Media Director Richard Lee Boger sold 20,000 shares of stock for a total of $116,400, reducing his ownership by 24.59% to approximately 61,343 shares.
• The company recently reported a quarterly loss of ($0.42) earnings per share, missing estimates, while revenue decreased 6.5% year-over-year.
• Gray Media declared a $0.08 quarterly dividend, yielding 5.5%, with the ex-dividend date set for September 15th.

Gray Media Inc. (NYSE:GTN - Get Free Report) Director Richard Lee Boger sold 20,000 shares of Gray Media stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $5.82, for a total value of $116,400.00. Following the completion of the sale, the director directly owned 61,343 shares in the company, valued at approximately $357,016.26. The trade was a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Gray Media Price Performance

Shares of GTN traded up $0.18 during mid-day trading on Thursday, hitting $5.85. 1,218,636 shares of the stock were exchanged, compared to its average volume of 1,485,586. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $596.72 million, a PE ratio of 3.87 and a beta of 1.21. Gray Media Inc. has a 52-week low of $2.91 and a 52-week high of $6.30. The firm has a 50-day moving average of $5.39 and a two-hundred day moving average of $4.47.

Gray Media (NYSE:GTN - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $765.16 million. Gray Media had a return on equity of 10.31% and a net margin of 5.64%.The company's revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Gray Media has set its Q3 2025 guidance at EPS. On average, equities analysts predict 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 dividend yield of 5.5%. Gray Media's dividend payout ratio (DPR) is presently 21.19%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GTN shares. Wall Street Zen cut Gray Media from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Barrington Research raised Gray Media from a "market perform" rating to an "outperform" rating and set a $6.50 target price on the stock in a research report on Monday, August 11th. Wells Fargo & Company raised 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. Guggenheim lifted their price objective on shares of Gray Media from $6.00 to $7.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Finally, Benchmark reaffirmed a "buy" rating and set a $9.00 price target (up previously from $7.00) on shares of Gray Media in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.88.

Institutional Investors Weigh In On Gray Media

A number of large investors have recently modified their holdings of GTN. Two Sigma Investments LP boosted its stake in Gray Media by 102.3% in the 4th quarter. Two Sigma Investments LP now owns 176,644 shares of the company's stock worth $556,000 after purchasing an additional 89,319 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Gray Media by 292.4% in the first quarter. HighTower Advisors LLC now owns 205,016 shares of the company's stock worth $886,000 after buying an additional 152,766 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Gray Media during the first quarter worth $2,876,000. Russell Investments Group Ltd. grew its holdings in shares of Gray Media by 17.7% during the first quarter. Russell Investments Group Ltd. now owns 496,295 shares of the company's stock valued at $2,144,000 after buying an additional 74,696 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Gray Media by 60.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,956,635 shares of the company's stock valued at $8,453,000 after acquiring an additional 734,085 shares during the period. Hedge funds and other institutional investors own 78.64% of the company's stock.

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.

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