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 the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $5.82, for a total value of $116,400.00. Following the sale, the director owned 61,343 shares of the company's stock, valued at $357,016.26. The trade was a 24.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Gray Media Trading Up 0.4%

Shares of NYSE:GTN traded up $0.02 during trading on Tuesday, reaching $5.60. 907,728 shares of the stock were exchanged, compared to its average volume of 1,040,976. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.87 and a current ratio of 0.87. Gray Media Inc. has a 12-month low of $2.91 and a 12-month high of $6.30. The firm has a market cap of $571.70 million, a price-to-earnings ratio of 3.71 and a beta of 1.21. The firm's 50-day moving average price is $5.45 and its 200 day moving average price is $4.52.

Gray Media (NYSE:GTN - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.42) earnings per share (EPS) 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 firm had revenue of $772.00 million for the quarter, compared to analysts' expectations of $765.16 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. Gray Media has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Monday, September 15th. Gray Media's dividend payout ratio is currently 21.19%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Gray Media

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its position in shares of Gray Media by 30.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 14,146 shares of the company's stock valued at $45,000 after purchasing an additional 3,262 shares in the last quarter. Choreo LLC raised its position in shares of Gray Media by 13.2% during the 1st quarter. Choreo LLC now owns 30,374 shares of the company's stock valued at $131,000 after acquiring an additional 3,547 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Gray Media by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 336,905 shares of the company's stock valued at $1,061,000 after acquiring an additional 3,737 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Gray Media by 157.6% during the 1st 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 in the last quarter. Finally, Nebula Research & Development LLC raised its position in shares of Gray Media by 4.6% during the 2nd quarter. Nebula Research & Development LLC now owns 129,984 shares of the company's stock valued at $589,000 after acquiring an additional 5,686 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

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.