Gray Media (NYSE:GTN) Raised to "Hold" at Wall Street Zen

Gray Media (NYSE:GTN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Several other research analysts have also weighed in on GTN. Wells Fargo & Company boosted their price objective on shares of Gray Media from $4.00 to $4.50 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Benchmark decreased their price objective on shares of Gray Media from $8.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Gray Media presently has an average rating of "Hold" and a consensus price target of $6.17.

Gray Media Stock Down 3.8%

Shares of GTN traded down $0.22 during midday trading on Friday, hitting $5.42. The company had a trading volume of 666,042 shares, compared to its average volume of 1,453,734. Gray Media has a 52 week low of $2.91 and a 52 week high of $6.61. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.48. The stock has a market cap of $549.84 million, a price-to-earnings ratio of 2.35 and a beta of 1.19. The company's 50 day moving average price is $4.27 and its 200 day moving average price is $3.94.

Gray Media (NYSE:GTN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.23) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.26. Gray Media had a net margin of 7.72% and a return on equity of 12.75%. The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $772.71 million. During the same period in the prior year, the business posted $0.79 earnings per share. Gray Media's revenue for the quarter was down 5.0% compared to the same quarter last year. On average, equities research analysts predict that Gray Media will post 3.32 EPS for the current year.

Insider Buying and Selling

In other Gray Media news, CFO Jeffrey R. Gignac bought 12,500 shares of Gray Media stock in a transaction on Thursday, June 5th. The stock was bought at an average price of $3.68 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief financial officer owned 644,599 shares in the company, valued at $2,372,124.32. The trade was a 1.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 15.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP lifted its stake in shares of Gray Media by 102.3% during the fourth quarter. Two Sigma Investments LP now owns 176,644 shares of the company's stock valued at $556,000 after acquiring an additional 89,319 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Gray Media during the 4th quarter worth $425,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Gray Media during the 4th quarter valued at about $402,000. EntryPoint Capital LLC raised its stake in shares of Gray Media by 925.7% in the fourth quarter. EntryPoint Capital LLC now owns 169,670 shares of the company's stock worth $534,000 after purchasing an additional 153,128 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Gray Media by 49.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 357,198 shares of the company's stock valued at $1,125,000 after acquiring an additional 117,827 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

About Gray Media

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.