Gray Media (NYSE:GTN) Stock Price Expected to Rise, Guggenheim Analyst Says

Key Points

• Guggenheim has raised its price target for Gray Media (NYSE:GTN) from $6.00 to $7.00, maintaining a "buy" rating that implies a potential upside of 19.43% from the stock's previous close.
• Gray Media reported a loss of ($0.42) EPS for the last quarter, falling short of analysts' expectations, though revenue exceeded projections at $772.00 million.
• Institutional investors hold 78.64% of Gray Media's stock, with several firms significantly increasing their positions in the company during recent quarters.

Gray Media (NYSE:GTN - Get Free Report) had its price target hoisted by Guggenheim from $6.00 to $7.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's price target would indicate a potential upside of 22.83% from the stock's current price.

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

Gray Media Stock Down 1.6%

Shares of Gray Media stock traded down $0.0910 during trading on Thursday, reaching $5.6990. The company's stock had a trading volume of 464,714 shares, compared to its average volume of 1,521,452. The company has a 50-day simple moving average of $4.81 and a two-hundred day simple moving average of $4.24. Gray Media has a 1-year low of $2.91 and a 1-year high of $6.16. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.56. The company has a market cap of $578.69 million, a price-to-earnings ratio of 3.77 and a beta of 1.20.

Gray Media (NYSE:GTN - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $765.16 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business's revenue was down 6.5% on a year-over-year basis. Gray Media has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Gray Media will post 3.32 earnings per share for the current year.

Insider Buying and Selling at Gray Media

In related news, CFO Jeffrey R. Gignac purchased 12,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $3.68 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief financial officer owned 644,599 shares of the company's stock, valued at $2,372,124.32. This represents a 1.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.22% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of Gray Media in the 1st quarter worth approximately $28,000. Voleon Capital Management LP bought a new position in Gray Media in the 4th quarter worth about $32,000. Ameriprise Financial Inc. purchased a new stake in Gray Media during the 4th quarter valued at $33,000. Boothbay Fund Management LLC purchased a new stake in shares of Gray Media during the 4th quarter valued at about $34,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Gray Media by 157.6% in the 1st quarter. Harbor Capital Advisors Inc. now owns 8,752 shares of the company's stock worth $38,000 after buying an additional 5,355 shares during the last quarter. 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.