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

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

Several other research firms have also recently weighed in on GTN. Benchmark lowered their price objective on shares of Gray Media from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lifted 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 report on Monday, May 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $6.17.

Gray Media Stock Performance

NYSE GTN traded down $0.24 during trading hours on Friday, reaching $5.38. The company's stock had a trading volume of 1,810,021 shares, compared to its average volume of 1,456,458. The business has a 50-day simple moving average of $4.27 and a 200 day simple moving average of $3.94. The stock has a market cap of $546.29 million, a PE ratio of 2.33 and a beta of 1.19. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.48. Gray Media has a 52 week low of $2.91 and a 52 week high of $6.61.

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

Insiders Place Their Bets

In related news, CFO Jeffrey R. Gignac acquired 12,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $3.68 per share, for a total transaction of $46,000.00. Following the acquisition, the chief financial officer owned 644,599 shares in the company, valued at $2,372,124.32. This trade represents a 1.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GTN. Acadian Asset Management LLC bought a new stake in Gray Media in the first quarter valued at about $28,000. Harbor Capital Advisors Inc. grew its stake in Gray Media by 157.6% during the first 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. CWM LLC grew its stake in Gray Media by 638.5% during the first quarter. CWM LLC now owns 9,615 shares of the company's stock worth $42,000 after buying an additional 8,313 shares during the last quarter. Voleon Capital Management LP bought a new stake in Gray Media during the fourth quarter worth about $32,000. Finally, Ameriprise Financial Inc. bought a new stake in Gray Media during the fourth quarter worth about $33,000. Institutional investors own 78.64% of the company's stock.

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.