Gray Media (NYSE:GTN) Shares Up 4.1% - What's Next?

Key Points

• Gray Media's stock price increased by 4.1% on Tuesday, closing at $5.91, though trading volume was down significantly at 179,825 shares compared to an average of 1.46 million shares.
• Several analysts have provided mixed ratings on Gray Media's stock, with Benchmark reissuing a "buy" rating and a target price increase to $9.00, while others downgraded their ratings.
• The company declared a quarterly dividend of $0.08, representing an annualized yield of 5.5%, with the ex-dividend date set for September 15th.

Gray Media Inc. (NYSE:GTN - Get Free Report)'s stock price shot up 4.1% on Tuesday . The company traded as high as $5.80 and last traded at $5.91. 179,825 shares traded hands during trading, a decline of 88% from the average session volume of 1,462,060 shares. The stock had previously closed at $5.67.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GTN. Wall Street Zen cut shares of Gray Media from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Benchmark reissued a "buy" rating and set a $9.00 target price (up from $7.00) on shares of Gray Media in a report on Monday, August 11th. Wells Fargo & Company increased their target price on shares of Gray Media from $4.50 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, August 11th. Barrington Research reaffirmed an "outperform" rating and issued a $6.50 price objective on shares of Gray Media in a report on Tuesday, September 23rd. Finally, Guggenheim increased their price objective on shares of Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $6.88.

Gray Media Stock Performance

The company has a debt-to-equity ratio of 2.56, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $589.57 million, a price-to-earnings ratio of 3.83 and a beta of 1.21. The firm's fifty day moving average is $5.51 and its 200 day moving average is $4.64.

Gray Media (NYSE:GTN - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.19). The company had revenue of $772.00 million for the quarter, compared to analyst estimates of $765.16 million. Gray Media had a return on equity of 10.31% and a net margin of 5.64%.The business's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. Gray Media has set its Q3 2025 guidance at EPS. On average, analysts predict that Gray Media Inc. will post 3.32 EPS for the current fiscal year.

Gray Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given 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 currently 21.19%.

Insider Transactions at Gray Media

In related news, Director Richard Lee Boger sold 20,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $5.82, for a total transaction of $116,400.00. Following the transaction, the director owned 61,343 shares of the company's stock, valued at approximately $357,016.26. The trade was a 24.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 15.22% of the company's stock.

Institutional Investors Weigh In On Gray Media

Several large investors have recently made changes to their positions in the company. State of Wyoming bought a new stake in shares of Gray Media in the 2nd quarter worth about $139,000. State of Tennessee Department of Treasury lifted its position in Gray Media by 127.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 81,095 shares of the company's stock worth $367,000 after buying an additional 45,477 shares in the last quarter. Oxford Asset Management LLP lifted its position in Gray Media by 147.6% during the 2nd quarter. Oxford Asset Management LLP now owns 29,471 shares of the company's stock worth $134,000 after buying an additional 17,566 shares in the last quarter. Gallagher Fiduciary Advisors LLC lifted its position in Gray Media by 23.0% during the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 80,133 shares of the company's stock worth $363,000 after buying an additional 14,970 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its position in Gray Media by 467.3% during the 2nd quarter. Engineers Gate Manager LP now owns 248,849 shares of the company's stock worth $1,127,000 after buying an additional 204,987 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.